BlackRock's IBIT Dominates $225M Bitcoin ETF Reversal
BlackRock's iShares Bitcoin Trust (IBIT) led a net outflow of $225 million from US spot Bitcoin ETFs on July 23, ending a seven-session inflow streak. The reversal erased about 22.5% of the preceding $999.3 million inflow.
IBIT accounted for nearly 90% of the reversal with a $202.5 million net outflow, dwarfing the combined outflows from five other funds at $27.6 million and Grayscale's GBTC at $5 million.
The decline in Bitcoin price was consistent with softer ETF demand, but causation remains unclear since fund flows are calculated after trading sessions.