BlackRock Bitcoin ETF logs $528M outflow, second-largest on record

BlackRock's iShares Bitcoin Trust (IBIT) saw $528 million in net outflows on Wednesday, the second-largest single-day withdrawal since the fund launched in January 2024.

The outflow fell just $500,000 short of the record $528.3 million pulled on January 30, according to data from SoSoValue. The fund, which holds roughly $59 billion in assets and accounts for close to 4% of bitcoin's total supply, is the largest single vehicle for institutional bitcoin exposure. The broader spot bitcoin ETF market also bled heavily, with 11 U.S.-listed funds losing a combined $733 million on Wednesday. Fidelity's FBTC contributed to the exodus, though specific figures were not detailed.

For cryptocurrency traders, such large outflows from the dominant ETF signal a shift in institutional sentiment. IBIT's massive size means its flows can sway bitcoin's price, as the fund's holdings represent a significant chunk of circulating supply. When institutions pull capital, it often reflects a risk-off mood or profit-taking, which can pressure bitcoin's price in the short term. Live crypto prices and charts on NowPrice show how the market is reacting to these outflows, with traders watching for further selling or a potential bounce.

Looking ahead, the key question is whether this outflow is a one-off or the start of a sustained trend. Traders should monitor daily ETF flow data from SoSoValue and similar sources, as well as broader macro cues like US Treasury yields and the DXY, which influence risk-asset appetite. A repeat of large outflows could signal deeper institutional caution, while a reversal might restore confidence. Bitcoin's price levels near key support zones will be critical to watch in the coming sessions.