5 Days of Bitcoin ETF Outflows, Brought to You Mostly by BlackRock
AI summary
US spot Bitcoin ETFs saw $299.8 million in net outflows on Wednesday, marking a fifth consecutive day of redemptions. BlackRock's iShares Bitcoin Trust (IBIT) absorbed almost all of the selling, meaning the pressure is concentrated in what had been one of BTC's most reliable sources of demand. Traders should watch whether IBIT flows stabilize, since continued single-fund outflows remove a key steady buyer from the market.
