[BlackRock Bitcoin ETF Sees Five Consecutive Weeks of Outflows, Totaling Over $2.7 Billion] BlackRock’s iShares Bitcoin Trust (IBIT) has experienced its longest single-week outflows since its launch in January 2024. In the five weeks ending November 28, investors withdrew more than $2.7 billion from the ETF. As of Thursday, the ETF saw another $113 million redeemed, setting the stage for a potential sixth consecutive week of net outflows. IBIT currently manages over $71 billion in assets. Blockchain analytics firm Glassnode noted that this trend marks a significant reversal in the steady inflows that previously supported prices, reflecting a cooling of new capital allocation into the asset. Currently, Bitcoin is trading at around $92,000, down 27% from its October peak.
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BlackRock Bitcoin ETF experiences five consecutive weeks of outflows, totaling over $2.7 billion
[BlackRock Bitcoin ETF Sees Five Consecutive Weeks of Outflows, Totaling Over $2.7 Billion] BlackRock’s iShares Bitcoin Trust (IBIT) has experienced its longest single-week outflows since its launch in January 2024. In the five weeks ending November 28, investors withdrew more than $2.7 billion from the ETF. As of Thursday, the ETF saw another $113 million redeemed, setting the stage for a potential sixth consecutive week of net outflows. IBIT currently manages over $71 billion in assets. Blockchain analytics firm Glassnode noted that this trend marks a significant reversal in the steady inflows that previously supported prices, reflecting a cooling of new capital allocation into the asset. Currently, Bitcoin is trading at around $92,000, down 27% from its October peak.