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AI summary of a third-party reportBearishNewsDesk

BlackRock's IBIT loses $2bn over nine sessions of outflows

Investors pulled a net $270m from BlackRock's spot Bitcoin ETF on Wednesday, about 90% of the day's $300m in withdrawals across US spot Bitcoin funds, Cointelegraph reports.

Why it matters: The outflows show investors pulling money from the largest US spot Bitcoin fund while Bitcoin trades near $73,000, down 8.5% on the week.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: BlackRock's IBIT loses $2bn over nine sessions of outflows
Image: Cointelegraph
Original reporting: Ezra Reguerra, Cointelegraph

Key points

  • IBIT recorded more than $2bn in net outflows over nine straight trading sessions through Wednesday.
  • US spot Bitcoin ETFs saw nearly $1.44bn in net withdrawals over five consecutive sessions.
  • Grayscale's GBTC lost $39.1m on 11 November, while Morgan Stanley's MSBT took in $9m.

BlackRock's iShares Bitcoin Trust (IBIT) has recorded more than $2bn in net outflows over nine consecutive trading sessions through Wednesday, Cointelegraph reports. Investors withdrew a net $270m from the fund on Wednesday, according to Farside Investors data.

That accounted for roughly 90% of the $300m pulled from US spot Bitcoin ETFs that day, up from $95m a day earlier. Grayscale's Bitcoin Trust ETF saw $39.1m in net withdrawals, while the Morgan Stanley Bitcoin Trust ETF drew $9m in net inflows. Across the US spot Bitcoin ETF market, net withdrawals reached nearly $1.44bn over five straight sessions.

Wednesday's rise in outflows followed three sessions in which the pace had eased.

Read the full story on Cointelegraph

Live updates on NewsFeeds:ETFsBitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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