$BTC
IBIT Sets Record for Largest Outflow of US$430 Million
iShares Bitcoin Trust (IBIT), BlackRock's Bitcoin exchange-traded fund (ETF), recorded an outflow of US$430.8 million on Friday (30/05). This marks the largest single-day outflow ever experienced by IBIT, surpassing the previous record of US$418.1 million on February 26.
Not only that, but this outflow also indicates a sharp trend. Farside Investor, an investment management company, stated that the outflow on May 30 ended a streak of inflows for 31 consecutive days, the longest period since IBIT was launched in January 2024.
This decline follows a very positive month for IBIT, where BlackRock was able to increase its Bitcoin holdings by nearly US$6.2 billion.
Nevertheless, IBIT still holds US$70 billion in Bitcoin, which is still considered “very large” given the relatively new age of the fund.