BlackRock's IBIT sells $355M in Bitcoin
Key Takeaways
- The iShares Bitcoin Trust (IBIT) from BlackRock saw over $355 million exit the fund on Thursday.
- Flows into US spot Bitcoin ETFs turned negative again on Thursday, with most funds posting outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded more than $355 million in net outflows on November 20, according to Farside Investors. Withdrawals for the week have reached approximately $964 million so far, including a record $523 million on Tuesday.
Spot Bitcoin ETFs in the US posted net outflows of around $903 million on Thursday, reversing the prior day’s inflow. IBIT, Grayscale’s GBTC, and Fidelity’s FBTC accounted for the bulk of the withdrawals.
Bitcoin climbed above $92,000 intraday but quickly reversed after US markets opened, sliding below $88,000 and extending its decline to $85,400, per CoinGecko.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Snipers Made $1.3M on Jesse Pollak’s Creator-Coin Debut on Base
Indonesia Detains Hacker Tied to Markets.com Crypto Theft After $398K Loss
CryptoQuant CEO Ki Young Ju Disputes Michael Saylor's Claims That He Will Sell Bitcoin! Here Are the Details
Philippines Bets on Sui's Move Language as Education System Struggles With Basics