Crypto
Home›Crypto›Bitcoin›BlackRock’s IBIT drives most of a $225 million Bitcoin…
BlackRock’s IBIT drives most of a $225 million Bitcoin ETF outflow
On July 23, IBIT saw a $202 million net outflow, and the day’s withdrawals erased about 22.5% of the $999 million inflow accumulated over July 14 to July 22.
US spot Bitcoin ETFs recorded $225 million in net outflows on July 23, ending a seven-session inflow streak. CryptoSlate reports the reversal was heavily concentrated in BlackRock’s iShares Bitcoin Trust, where IBIT posted a $202 million net outflow that accounted for 89.96% of the sector’s aggregate daily outflow.
The remaining funds saw smaller combined outflows, with five other products totaling $27.6 million in withdrawals and Grayscale’s GBTC attracting $5 million. CryptoSlate also noted that the outflow from funds outside IBIT added up to a net $22.6 million toward the day’s overall outflow.
CryptoSlate said the reversal followed seven consecutive positive sessions from July 14 through July 22, when the ETFs attracted a combined $999 million in inflows. The July 23 withdrawal erased approximately 22.5% of those additions, leaving the full eight-session stretch with a net inflow of $774 million.
BlackRock reported that IBIT’s net asset value declined 1.63% for the day, and that the CME CF Bitcoin Reference Rate benchmark ended at $64,768. CryptoSlate added that flows are calculated after the trading session and can reflect investor positioning, and that the timing means causation for softer demand is not fully resolved.
Latest closeBitcoin $63,560.86 ▲0.2%