BlackRock’s Bitcoin ETF Registers Second Outflows Since January

Reading Time: < 1 minute

BlackRock’s Bitcoin ETF yesterday experienced its second day of outflows since it launched in January.

The iShares Bitcoin Trust ETF (IBIT) saw a net outflow of $13.5 million, following the $36.9 million net outflow on May 1, which was the worst outflow day for all Bitcoin ETFs at $563.7 million according to Farside Investors data.

Overall, 11 Bitcoin ETFs in the United States experienced joint net outflows amounting to $71.8 million on August 29.

BlackRock’s fund ranked third with its $31.1 million net outflows, while the Fidelity Wise Origin Bitcoin Fund (FBTC) took the top spot with $22.7 million outflows. This outflow day for IBIT comes after it saw a net inflow of $224.1 million, its largest since July 22nd when it had $526.7 million in inflows.