BlackRock's IBIT Leads Fourth Straight Day of Spot Bitcoin ETF Outflows

US spot Bitcoin exchange-traded funds (ETFs) saw their fourth consecutive day of net outflows on July 28, totaling approximately $49.7 million in withdrawals.

The main driver behind these outflows was BlackRock's iShares Bitcoin Trust (IBIT), which experienced a significant decline of $54.8 million in assets under management, marking one of the largest single-day redemptions for the fund since its launch earlier this year.

However, Grayscale's Mini $BTC trust recorded a modest net inflow of $5.1 million, providing some contrast to the broader trend of outflows among spot Bitcoin ETFs.

This divergence highlights shifting investor preferences within the space, with some investors potentially taking profits or reducing exposure following a strong rally earlier in the year.