IBIT is experiencing the largest daily outflow since its launch, and the streak of inflows is coming to an end.
The BlackRock iShares Bitcoin Trust (IBIT) has ended an unprecedented 31-day streak of inflows, recording a record daily outflow of $430.8 million on May 30 – the highest figure since the fund's launch in January 2024.
The previous record for a single-day outflow for IBIT was $418.1 million on February 26, Cointelegraph reports.
The outflow marked a sharp reversal after a month of consecutive purchases, during which BlackRock's Bitcoin holdings reached $70 billion. ETF analyst Nate Geraci called this streak "ridiculous" and an important milestone for institutional Bitcoin funds.
There is a broad outflow of funds in the ETF market.
The outflow from BlackRock coincided with a broader pullback in American spot Bitcoin funds. On May 30, all 11 U.S.-listed products recorded a total net outflow of $616.1 million. This was the second consecutive day of outflows, following an outflow of $346.8 million on May 29.
Notably, on the previous day, BlackRock still recorded an inflow of funds, which drew praise from industry figures like Kyle Schasse, who called this move "big brain energy." Chase also emphasized that the recent sell-off does not reflect retail panic but rather a strategic reallocation of funds in favor of long-term holders.
Price dynamics lag behind inflows.
Despite over $6.2 billion in inflows to BlackRock's Bitcoin fund in May alone, the price of Bitcoin remains relatively stable. At the time of publication, BTC is trading around $103,700, down 2.27% in the last 24 hours. Derive founder Nick Forster noted that the spot price did not align with the capital inflows into the ETF, indicating that broader market dynamics and liquidity issues may be restraining price movement. For the week ending May 23, spot Bitcoin ETF funds attracted $2.75 billion, yet prices remained largely range-bound.
Recently, at the Bitcoin 2025 conference in Las Vegas, MicroStrategy co-founder and executive chairman Michael Saylor urged investors to stay committed to Bitcoin (BTC).
