Key Takeaways
- Around $114 million was withdrawn from BlackRock’s Bitcoin ETF on Friday.
- The outflows reflect ongoing volatility and decreasing institutional appetite for Bitcoin exposure.
Share this article
BlackRock’s iShares Bitcoin Trust (IBIT) saw approximately $114 million in net inflows on November 28 amid ongoing crypto market volatility. The substantial outflow comes as many investors continue reducing their digital asset exposure.
The selloff reflects investor sentiment across US spot Bitcoin ETFs, which have experienced notable outflows in recent weeks. BlackRock has observed clients pulling back from Bitcoin positions during the current crypto market downturn.
In recent weeks, major funds have reported significant Bitcoin sell-offs as the crypto market faces heightened volatility. The trend aligns with institutional investors’ broader strategy of reducing exposure to digital assets during periods of market uncertainty.
Despite outflows from IBIT, US-listed spot Bitcoin ETFs still finished Friday in the green, buoyed by fresh inflows into funds run by Fidelity, ARK Invest, and Grayscale. The group collectively pulled in around $71 million.
Other Articles
Top Platforms for Trading Altcoins
No Comment! Be the first one.