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Anush Jafer

BlackRock's IBIT logs $527.84M outflow on Wednesday, near its record worst day

BlackRock's iShares Bitcoin Trust (IBIT) recorded -$527.84 million in net outflows on Wednesday, marking its second-largest outflow day on record. Bitcoin spot ETFs have now logged eight straight days of cumulative net outflows, with the month-to-date total at -$2.07 billion at the time of writing. The pullback coincided with April PPI printing 6% year over year, which reduced June rate-cut odds and weighed on the rate-sensitive Bitcoin narrative.
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