BlackRock's IBIT Bitcoin ETF Experiences Record $523 Million Daily Outflow Amid Bitcoin Price Decline
The BlackRock-managed IBIT Bitcoin ETF posted a record daily outflow of $523 million on Tuesday, marking its fifth consecutive day of outflows. Over this five-day trading period, IBIT shed more than $1.4 billion, the highest total recorded for any consecutive-day stretch in its 22-month history.
IBIT currently manages over $73 billion in assets, making it the largest among spot Bitcoin ETFs. This decline coincided with Bitcoin's price falling to a seven-month low near $89,037 and trading around $89,204, down more than 4% within 24 hours.
The downturn in Bitcoin prices has been driven by a combination of macroeconomic uncertainties including the longest U.S. government shutdown, inflation concerns, ongoing trade tensions, weak jobs data, and AI-related impacts on the balance sheets of major technology companies. Additionally, the Myriad prediction market gives only a 28% likelihood that Bitcoin will reach $115,000 in its next move.
Over the past month, Bitcoin ETFs have experienced approximately $3.3 billion in outflows, representing about 3.5% of total assets under management. Other Bitcoin ETFs faced declines over the same five-day period, with the Fidelity Wise Origin Bitcoin Fund down over $266 million and Grayscale Bitcoin Trust down more than $146 million, though neither recorded outflows specifically on Tuesday.
In a related development, Harvard University increased its stake in IBIT to 6.8 million shares, valued at about $442 million according to a recent regulatory filing.
