After more than four weeks of uninterrupted investor enthusiasm, BlackRock’s iShares Bitcoin Trust has reported its steepest daily outflow since its inception, signaling a potential shift in sentiment.
Data from Farside reveals that on May 30, investors pulled $430.8 million from the fund, breaking a 31-day streak of consistent inflows. This marks the highest single-day outflow for IBIT since its January 2024 launch, slightly surpassing the previous record set in late February.
Despite the setback, the fund has already amassed a staggering $70 billion in Bitcoin holdings, underscoring the rapid institutional adoption since spot Bitcoin ETFs went live in the U.S.
The broader Bitcoin ETF market mirrored the decline, with a total of $616 million in net outflows across all issuers on the same day. This followed a $346 million pullback the previous day, marking the first two-day retreat in recent weeks.
Market observers have dismissed fears of a retail selloff. Some industry voices suggest the movements reflect capital rotation rather than panic, with long-term investors using the moment to reallocate assets.
Meanwhile, Bitcoin’s price hovered around $103,700 after a slight daily dip, despite more than $6 billion flowing into IBIT during May alone. Analysts note that even as inflows surged, price action remained subdued—prompting questions about where the next wave of volatility may come from.
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