BlackRock’s iShares Bitcoin Trust (IBIT) recorded $405.3 million in net daily outflows, marking its second largest withdrawal since launching in January 2024. Other U.S. spot Bitcoin ETFs collectively recorded $398.6 million in outflows during the same session, extending a period of withdrawals from regulated Bitcoin investment products.
The withdrawals came as Bitcoin prices declined amid geopolitical tensions and broader macroeconomic uncertainty, prompting investors to reduce their exposure to the asset. IBIT, the largest U.S. spot Bitcoin ETF, is widely viewed as an indicator of institutional demand for Bitcoin. Its latest outflows suggest weakening investor appetite following months of strong inflows.
The development also comes amid concerns over security and trust in the crypto market following a major exchange hack. The withdrawals point to growing caution among institutional investors, with market uncertainty and security concerns weighing on demand for Bitcoin investment products.
