BlackRock Bitcoin ETF Sees $2 Billion in Outflows

BlackRock's iShares Bitcoin Trust recorded net outflows exceeding $2 billion over nine consecutive trading sessions. Investors pulled $269.7 million from the product last Wednesday alone. This figure accounted for nearly 90% of the $300 million in total outflows observed across all spot Bitcoin ETFs in the United States.

Redemptions in U.S. funds reached a total of $1.44 billion over five sessions. The Grayscale Bitcoin Trust also reported outflows, totaling $39.1 million during the same period. In contrast, the Morgan Stanley Bitcoin Trust saw net inflows of $9 million.

Demand in the spot market remains weak, accompanied by a negative premium on Coinbase and the liquidation of leveraged positions. The price of Bitcoin fell 8.5% last week and is trading near $73,000. The asset also showed a decoupling from the recent recovery of the Nasdaq index.

Analysts note that a slowdown in ETF outflows could be an initial step toward forming a market floor. However, the current volume of redemptions is not yet enough to guarantee a sustained price recovery. The current landscape reflects greater caution among institutional investors regarding the digital asset.