{"id":2256,"date":"2024-08-30T10:50:34","date_gmt":"2024-08-30T10:50:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=2256"},"modified":"2024-08-30T10:50:34","modified_gmt":"2024-08-30T10:50:34","slug":"blackrocks-bitcoin-etf-saw-outflow-for-the-first-time-since-may","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=2256","title":{"rendered":"BlackRock&#8217;s Bitcoin ETF Saw Outflow For the First Time Since May"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/blackrock\">BlackRock&#8217;s<\/a> spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust, experienced an outflow of $13.5 million on Thursday. This was IBIT&#8217;s first outflow since May 1st. Thursday&#8217;s outflow was the second ever for the iShares Bitcoin Trust since its launch in January. The ETF has seen consistent inflows almost daily, cementing itself as a dominant Bitcoin investment product.<\/p>\n<p>Prior to Thursday&#8217;s $13.5 million outflow, the last time the fund saw withdrawals was May 1st when $37 million was pulled out. That coincided with Bitcoin hitting a local low of $56,000.<\/p>\n<p>The outflow comes as <a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">spot Bitcoin ETFs<\/a> recorded a third straight day of withdrawals totalling $71.8 million on Thursday. Competing Bitcoin ETFs from Grayscale, Fidelity, Valkyrie and Bitwise also posted outflows ranging from $8 million to $31 million.<\/p>\n<p>Meanwhile, <a href=\"https:\/\/bitcoinmagazine.com\/tags\/ark-invest\">ARK&#8217;s Bitcoin ETF<\/a> saw an inflow of $5.3 million, bucking the negative trend. The mixed flows highlight diverse investor outlooks amid Bitcoin&#8217;s stagnation under $60,000. BlackRock&#8217;s IBIT seeing an outflow for the first time in months is a notable development. It might indicate that the bottom is in like the last time, or this might be the start of more outflows.\u00a0<\/p>\n<p>Nonetheless, BlackRock&#8217;s Bitcoin ETF has still attracted a staggering over $20 billion in net inflows over its lifetime. It remains the dominant spot Bitcoin fund with over 350,000 BTC under management, making it one of the largest <a href=\"https:\/\/www.bitcoinmagazinepro.com\/charts\/bitcoin-treasury-public-listed-companies\/\">institutional Bitcoin holders.<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>BlackRock&#8217;s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust, experienced an outflow of $13.5 million on Thursday. This was IBIT&#8217;s first outflow since May 1st. Thursday&#8217;s outflow was the second ever for the iShares Bitcoin Trust since its launch in January. The ETF has seen consistent inflows almost daily, cementing itself as a dominant [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":2257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2256"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2256"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2257"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}