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.
You may also like
Kenyan Drivers' Demonstrations Lead to Fare Increases, Challenging the Stability of the Gig Economy
- Kenyan authorities mandated a 50% fare hike for Uber and Bolt to address drivers' protests over "exploitative labor practices." - The directive, aligning with AAK guidelines, requires immediate compliance within seven days to resolve unsustainable driver earnings. - Drivers claim current fares fail to cover operational costs, leading to loan defaults and vehicle repossessions, while unions threaten legal action. - The government collaborates with the World Bank to draft a national taxi pricing policy, ai
Coca-Cola Encounters Legal Obstacles Amid Shift to Automated Retail
- Coca-Cola executives sold $12M in shares amid Australian legal disputes and regulatory challenges over pricing arrangements. - The company partnered with Kende Retail to launch Hungary's first autonomous retail store, planning 15 unmanned locations by 2026. - Analysts raised price targets to $80-$81, citing strong Q3 earnings with 6% organic revenue growth and resilient core markets. - Legal battles and regulatory scrutiny highlight Coca-Cola's need to balance innovation with compliance in the coming mon
Meme Market Ignition: 5 Giants Building Toward an 100x Supercycle Breakout
The Golden Phase of Altseason Begins — 5 Prominent Tokens Primed for 1000x Growth
Trending news
MoreCrypto prices
More
