BlackRock's IBIT Dominates $240M Outflow from US Bitcoin Spot ETFs

The U.S.-listed Bitcoin spot ETFs have seen a significant reversal in fortunes, with over $240 million in capital fleeing the market in a single day. This marks a halt to a seven-day streak of net inflows, which had attracted approximately $1 billion in investments.

BlackRock's iShares Bitcoin Trust (IBIT) accounted for 88% of the total outflows, losing a staggering $212.17 million in one day alone. Fidelity's Wise Origin Bitcoin Fund (FBTC) also saw an additional $27.91 million exit.

The reversal is seen by market analysts as the result of one or more large institutions reducing their positions rather than a broad-based retreat by retail investors. IBIT is considered a key barometer for gauging institutional Bitcoin ETF positioning.

Despite the two-day outflow, the underlying strength of the U.S. Bitcoin spot ETF market remains robust, with total cumulative net inflows standing at $51.39 billion and total assets under management reaching approximately $78.8 billion.