Investors pulled $202.48 million, roughly 3,130 BTC, from BlackRock's flagship iShares Bitcoin Trust (IBIT) within a single trading day, marking a sharp shift in institutional flows. This sudden outflow ended the fund's recent series of inflows and forced BlackRock to liquidate some Bitcoin holdings to fulfill redemptions.
Capital Shifts from Bitcoin to Ethereum ETFs
The move does not signal an exit from crypto but a reallocation as institutional investors pivot towards spot Ethereum ETFs. These funds recorded net inflows of $26.32 million, with BlackRock's own Ethereum fund receiving an additional $11.39 million in new capital. the broader spot Bitcoin ETF market experienced net outflows totaling $225.18 million, while Ethereum-focused ETFs gained traction.
Other Bitcoin ETFs also felt the pressure: Bitwise's BITB lost $7.03 million, Fidelity's FBTC saw $5.64 million withdrawn, and ARK 21Shares' ARKB dropped $4.30 million. Only Morgan Stanley's MSBT defied the trend, attracting a modest $5.01 million.
Despite the large outflows, Bitcoin’s price barely budged, dipping just 1% and holding steady above $65,400. This resilience came on a day when the U.S. stock market faced a severe tech-sector sell-off that wiped out $800 billion in market value from major IT companies, underlining Bitcoin's growing detachment from traditional equities.
