Key takeaways
- About $114 million was withdrawn from BlackRock’s Bitcoin ETF on Friday.
- The outflows reflect ongoing volatility and declining institutional appetite for Bitcoin exposure.
BlackRock’s iShares Bitcoin Trust (IBIT) saw about $114 million in net inflows on Nov. 28 amid ongoing volatility in the crypto market. The significant outflow comes as many investors continue to reduce their exposure to digital assets.
The sell-off reflects investor sentiment over US spot Bitcoin ETFs, which have seen notable outflows in recent weeks. BlackRock has observed clients withdrawing from Bitcoin positions during the current downturn in the crypto market.
In recent weeks, major funds have reported significant sales of Bitcoin as the crypto market faces increased volatility. The trend is in line with institutional investors’ broader strategy of reducing exposure to digital assets during periods of market uncertainty.
Despite outflows from IBIT, US-listed spot Bitcoin ETFs still ended Friday in the green, supported by fresh inflows into funds run by Fidelity, ARK Invest and Grayscale. The group raised about $71 million.