BlackRock's IBIT sells $355M in Bitcoin
Key Takeaways
- The iShares Bitcoin Trust (IBIT) from BlackRock saw over $355 million exit the fund on Thursday.
- Flows into US spot Bitcoin ETFs turned negative again on Thursday, with most funds posting outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded more than $355 million in net outflows on November 20, according to Farside Investors. Withdrawals for the week have reached approximately $964 million so far, including a record $523 million on Tuesday.
Spot Bitcoin ETFs in the US posted net outflows of around $903 million on Thursday, reversing the prior day’s inflow. IBIT, Grayscale’s GBTC, and Fidelity’s FBTC accounted for the bulk of the withdrawals.
Bitcoin climbed above $92,000 intraday but quickly reversed after US markets opened, sliding below $88,000 and extending its decline to $85,400, per CoinGecko.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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