Overview
- Friday’s $696 million net outflow was the largest single‑day redemption for US spot Bitcoin ETFs since January, extending a run of heavy withdrawals reported across the past two weeks.
- BlackRock’s iShares Bitcoin Trust (IBIT) led the selling with seven straight sessions of outflows that totaled about $1.66 billion since October 30, according to Farside Investors data.
- The ETF complex’s year‑to‑date net flows have flipped to negative, roughly $0.9–1.1 billion in withdrawals, even as some rivals such as Morgan Stanley’s MSBT and Fidelity’s FBTC showed intermittent inflows.
- Because spot ETFs must buy or sell the underlying tokens to match share creations and redemptions, concentrated redemptions can translate into tangible selling pressure that affects Bitcoin’s short‑term price and liquidity.
- Longer term the picture remains large with cumulative net inflows since January 2024 near $55.5–$56 billion and assets under management in the mid‑$90 billion range, and market watchers will watch whether IBIT’s outflows ease and overall flows return to positive.