Investors pull over US$300m from BlackRock's bitcoin ETF during outflow streak [Wealth Professional (Canada)]
Blackrock Health Sciences Trust (BME)
US:NYSE Investor Relations:
blackrock.com/investing/products/240227/blackrock-health-sciences-trust-usd-fund
Company Research
Source: Wealth Professional
Investors withdrew a net US$333m from BlackRock Inc.'s iShares Bitcoin Trust ETF (IBIT) on Thursday, marking the largest outflow since the fund's record-breaking launch. This withdrawal coincided with the fund's third consecutive day of outflows, its longest streak to date, as per data compiled by Bloomberg. IBIT, which launched in January, has become the largest spot Bitcoin fund, boasting over US$53bn in assets and attracting nearly US $37bn in inflows. The fund's rapid success with institutional investors contributed to Bitcoin reaching an all-time high of US$108,315 in mid-December. Recent data indicates a tapering of flows to IBIT, signalling a pause in Bitcoin's record-breaking performance in 2024. A group of 12 Bitcoin exchange-traded funds in the US experienced a net outflow of approximately US $2bn since December 19, according to Bloomberg. Concurrently, open interest for Bitcoin futures hosted by CME Group Inc., viewed as an indicator of US institutional demand
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