BlackRock’s iShares Bitcoin Trust (IBIT), the largest US spot Bitcoin ETF by assets, continued its streak of withdrawals on Monday, marking the seventh consecutive day of outflows. The fund recorded $213 million in outflows, bringing the total to $1.66 billion since October 30, according to Farside Investors data.
The broader Bitcoin ETF market also saw losses, with a net outflow of $201 million. This was partially offset by $22 million in inflows to the Morgan Stanley Bitcoin Trust ETF (MSBT). Over the past six trading sessions, the funds have experienced around $1.5 billion in net outflows.
Despite the outflows, the Crypto Fear & Greed Index improved to 32 from 29 on Monday, though it remained in “Fear” territory. Bitcoin traded at approximately $74,594 at the time of publication, down 2.8% over the past seven days but up slightly over the previous 24 hours.
Kevin Boeve, a veteran trader and business development executive at Palladium Network, noted the disconnect between rising stocks and falling cryptocurrency prices. “Stocks are up while crypto keeps falling, even with the big Coinbase news,” Boeve told Cointelegraph. He predicted a major stock market correction that could escalate into a broader sell-off.