BlackRock’s IBIT Snaps 31-Day Winning Streak With Largest Outflow Ever Amid Tariff Angst ⋆ ZyCrypto
The post BlackRock’s IBIT Snaps 31-Day Winning Streak With Largest Outflow Ever Amid Tariff Angst ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     BlackRock’s iShares Bitcoin Trust (IBIT) has ended its spot Bitcoin exchange-traded fund (ETF) inflow streak with its largest single-day outflow day since the fund went live in January 2024. IBIT witnessed over $430 million in outflows on May 30, a reversal after 31 consecutive days of positive accumulation. Investors Pull $430.8 Million From BlackRock’s Bitcoin ETF Investors pulled $430.8 million from BlackRock’s spot Bitcoin ETF on Friday amid flaring tensions between the U.S. and China over President Donald Trump’s tariffs. It was IBIT’s biggest single-day net outflow since its launch, according to data from U.K. asset manager Farside Investors. Before this, IBIT’s largest outflow day was on Feb. 26, bleeding $418.1 million in investor money. Nate Geraci, the president of investment advisor ETFStore, observed in a May 31 post on X, “What a run over the past 30+ days, though.” Geraci pointed out that BlackRock’s IBIT is now pushing approximately $70 billion in Bitcoin assets under management since its debut — continuing to assert its dominance in the market. “Not sure I have words to describe how ridiculous this is,” he posited. Overall, the dozen US-listed spot Bitcoin ETFs as a whole posted net outflows for the second consecutive day on May 30, totaling $616.1 million. The latest pullback came as global economic tensions rattled financial markets, triggering a cascade of liquidations and pulling prices below key support levels. Advertisement   Bitcoin was trading hands at around $104,140 at publication time, according to CoinMarketCap data. Just nine days ago, the world’s oldest and largest cryptocurrency was trading at all-time highs of nearly $112,000. The volatility comes after U.S. President Donald Trump accused China of violating a bilateral trade pact, forcing him to double tariffs on steel and aluminum to 50% to protect domestic industries. Trump claimed China…
Filed under: News - @ May 31, 2025 7:27 pm