Important points
- BlackRock’s iShares Bitcoin Trust (IBIT) withdrew more than $355 million from the fund on Thursday.
- Inflows into U.S. spot Bitcoin ETFs turned negative again on Thursday, with most funds recording outflows.
Share this article
BlackRock’s iShares Bitcoin Trust (IBIT) recorded net outflows of more than $355 million on November 20, according to Pharcyde Investors. Withdrawals have reached about $964 million so far this week, including a record $523 million on Tuesday.
The U.S. Spot Bitcoin ETF recorded net outflows of about $903 million on Thursday, reversing the previous day’s inflows. IBIT, Grayscale’s GBTC, and Fidelity’s FBTC accounted for the majority of withdrawals.
According to CoinGecko, Bitcoin rose above $92,000 during the day, but quickly reversed as soon as the U.S. market opened, falling below $88,000 and extending its decline to $85,400.
