BlackRock’s IBIT Sees Record $527.8 Million Daily Outflow Since Launch
Summary
- BlackRock’s spot Bitcoin ETF IBIT recorded $527.8 million in daily net outflows, the largest since the fund’s launch.
- US spot Bitcoin ETF products saw a combined $733.4 million leave on the same day, marking the biggest net outflow in four months since late January.
- Bitcoin fell 3.6%% from a day earlier and dropped below $73,000, as risk-off sentiment widened on profit-taking, higher US Treasury yields, and derivatives liquidations.
Forecast Trend Report by Period
BlackRock’s spot Bitcoin exchange-traded fund posted a one-day net outflow of $527.8 million.
The Block reported on May 28 that IBIT, BlackRock’s spot Bitcoin ETF, logged net outflows of $527.8 million on May 27. It was the fund’s largest daily net outflow since its launch in early 2024.
US spot Bitcoin ETFs as a whole recorded net outflows of $733.4 million that day, the largest since late January and the biggest in four months.
Besides IBIT, Grayscale’s GBTC posted net outflows of $104.8 million. Morgan Stanley’s MSBT was the only spot Bitcoin ETF to record net inflows, at $4.3 million.
Bitcoin fell nearly 3.6% from a day earlier, dropping below $73,000. Nick Ruck, a director at LVRG Research, attributed the decline to profit-taking after the recent peak, rising US Treasury yields and macroeconomic uncertainty stemming from geopolitical tensions, which fueled risk-off sentiment.
Dominick John, an analyst at Zeus Research, cited a rotation of capital into traditional financial-market equities and large derivatives liquidations as the main drivers of Bitcoin’s latest decline. He added that liquidation pressure intensified after key price levels for Bitcoin and Ether broke, triggering further losses.
