BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), recorded more than $2 billion in net outflows over nine consecutive trading sessions through Wednesday.
Investors pulled a net $269.7 million from IBIT on Wednesday, accounting for about 90% of the day’s $300 million in net withdrawals across US spot Bitcoin ETFs, according to Farside Investors data.
Grayscale’s Bitcoin Trust ETF (GBTC) recorded $39.1 million in net withdrawals, while the Morgan Stanley Bitcoin Trust ETF (MSBT) drew $9 million in net inflows.
US spot Bitcoin ETFs posted nearly $1.44 billion in net withdrawals over five straight sessions. Wednesday’s increase followed three sessions of easing outflows.
Crypto exchange Bitfinex said on Wednesday that slowing ETF outflows could be an early step toward a market floor, but were not enough on their own to establish a recovery.
Bitfinex found that in the ETF outflow streaks it…
