BlackRock's Bitcoin ETF sees $214M outflow amid 13-day $4.4B sell-off by institutions.
BlackRock’s iShares Bitcoin Trust experienced a $213.63 million outflow on June 5, part of a broader $326 million withdrawal from US spot Bitcoin ETFs that day. This marked the end of a 13-day period where $4.4 billion was pulled from these ETFs, indicating significant institutional profit-taking rather than routine rebalancing. Despite these outflows, BlackRock’s ETF remains the largest by assets and continues to charge a competitive 0.25% fee. The sustained selling pressure from major ETFs could negatively impact Bitcoin’s spot price, highlighting the growing influence of ETFs on the cryptocurrency market.
BlackRock’s iShares Bitcoin Trust experienced a $213.63 million outflow on June 5, part of a broader $326 million withdrawal from US spot Bitcoin ETFs that day. This marked the end of a 13-day period where $4.4 billion was pulled from these ETFs, indicating significant institutional profit-taking rather than routine rebalancing. Despite these outflows, BlackRock’s ETF remains the largest by assets and continues to charge a competitive 0.25% fee. The sustained selling pressure from major ETFs could negatively impact Bitcoin’s spot price, highlighting the growing influence of ETFs on the cryptocurrency market.
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