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BlackRock’s Ishares Bitcoin Trust is facing the largest daily spill of over $430 million. The US-registered Spot Bitcoin ETF has collected a $616 million spill amid a decline in Bitcoin prices.
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BlackRock’s Ishares Bitcoin Trust (IBIT) snapped a week-long inflow streak that has been going on since April 10, seeing more than $430 million inundation after the market closed on Friday. This was the biggest day-to-day net leak of ETFs since launch, according to Farsise Investors.
IBIT continues to dominate the global Bitcoin ETF market despite recent pullbacks. Since launch, the fund has brought in about $48 billion in new capital, with its managed assets approaching $70 billion.
Other competing Bitcoin ETFs also recorded losses on the last trading day in May.
Fidelity’s FBTC saw a leak of about $14 million. Grayscale’s GBTC lost about $16 million, Bitwise’s Bitb Shed recorded major spills at $35 million and Ark Invest’s ARKB recorded $120 million.
Overall, the US-registered Spot Bitcoin ETF lost about $616 million on Friday and continued its slide after a $346 million spill on Thursday.
The return of negative ETF flows coincided with updated sales pressures on Bitcoin. After hitting a weekly high of $110,000, the assets fell below $105,000 on Thursday before extending to nearly $103,000 by Saturday.
At the time of writing, Bitcoin was hovering around $103,700 per TradingView data.
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