BlackRock Bitcoin ETF sees five consecutive weeks of outflows, totaling over $2.7 billion

Jinse Finance reported that BlackRock's iShares Bitcoin Trust (IBIT) has experienced its longest weekly outflow since its launch in January 2024. In the five weeks ending November 28, investors withdrew over 2.7 billion USD from the ETF. As of Thursday, the ETF saw another 113 million USD in redemptions, putting it on track for a sixth consecutive week of net outflows. IBIT currently manages assets exceeding 71 billion USD. Blockchain analytics firm Glassnode stated that this trend marks a significant reversal of the sustained inflow mechanism that previously supported prices, reflecting a cooling of new capital allocation to the asset. Currently, Bitcoin is trading at around 92,000 USD, down 27% from its October peak.