Bitcoin ETF outflows: BlackRock’s IBIT sees $65.4 million withdrawals as other funds stay flat
BlackRock’s IBIT saw $65.4 million in Bitcoin ETF outflows on October 12, while other US spot Bitcoin ETFs recorded no net flows that day.
On October 12, BlackRock's iShares Bitcoin Trust (IBIT) experienced a net outflow of $65.4 million, according to Yahoo Finance. This represents roughly one-third of the $207.7 million outflow IBIT recorded on October 7. No other US spot Bitcoin ETFs recorded any net outflows on October 12, indicating that the withdrawal was concentrated in BlackRock's ETF.
Despite the recent withdrawal, IBIT has accumulated approximately $65.67 billion in historical cumulative net inflows, representing about 0.1% of its total inflows. US spot Bitcoin ETFs collectively held around $106 billion in assets during the reporting period, which equates to approximately 6.35% of Bitcoin's total market capitalization.
While the daily outflow is notable, it is relatively small compared to the total money attracted by IBIT over time. The latest outflow indicates investor activity through regulated Bitcoin investment products but does not independently confirm Bitcoin price movements. Market participants can analyze ETF flows in conjunction with Bitcoin's price, support levels, and liquidation risks to assess broader market conditions.
Further daily ETF flow reports are required to determine whether investor demand is improving or weakening.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
