The post BlackRock’s iShares Bitcoin Trust sees record single-day outflow of $418 million amid sector sell-off appeared on BitcoinEthereumNews.com.

BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin exchange-traded fund (ETF), saw record-breaking withdrawals on Feb. 26 amid the sector’s prolonged sell-off during the last seven trading days. Data from SoSoValue shows that IBIT lost 5,002 BTC, valued at $418 million, marking the fund’s highest single-day outflow. This outflow surpassed its previous record of $332 million set in January. BlackRock’s IBIT Flows (Source: X/Thomas Fahrer) As a result, IBIT, which manages approximately $48 billion in assets, played a significant role in the day’s total sector-wide outflows of $756 million. Fidelity’s Wise Origin Bitcoin Trust (FBTC) also experienced significant selling pressure, with investors withdrawing $145.69 million worth of Bitcoin. Meanwhile, the Ark 21Shares Bitcoin ETF (ARKB) recorded $60.46 million in outflows, and Grayscale’s Mini Bitcoin Fund saw $55.97 million leave its holdings. Bitcoin ETFs Flow (Source: SoSoValue) Other funds also faced sell-offs, albeit at lower levels. Grayscale’s GBTC shed $22.66 million, while Invesco Galaxy’s BTCO registered $16.83 million in withdrawals. Bitwise’s ETF lost $13.65 million, while WisdomTree’s BTCW and Franklin Templeton’s EZBC reported outflows of $11.52 million and $9.69 million, respectively. Meanwhile, this wave of exits followed an even larger outflow of $937.7 million on Feb. 25, extending a seven-day sell-off streak. Over the past week, nearly $3 billion has left Bitcoin ETFs, underlining the growing investor caution amid market uncertainty. Bitcoin ETF Outflows Streak. (Source: SoSoValue) Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate…

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Filed under: News - @ February 27, 2025 9:19 am