finance
BlackRock Bitcoin ETF records $528 million outflow as bitcoin price falls below $73,000
The BlackRock Bitcoin exchange-traded fund posted its second-largest single-day outflow on record. The movement coincided with a decline in the price of bitcoin.
May 28, 1:00 PM·1m read1 source
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The BlackRock Bitcoin exchange-traded fund recorded a net outflow of $528 million in a single day, according to data reported by CoinDesk. The figure marks the second-largest daily withdrawal since the fund began trading. The outflow occurred while the price of bitcoin moved below $73,000. CoinDesk presented the two developments together without stating a direct causal link.
Daily flow figures for exchange-traded products that hold bitcoin are published by the issuers and tracked by market-data services. The reported $528 million net redemption is the second-highest single-day total for this particular fund. No additional context on investor motives or subsequent trading sessions was included in the report.
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