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.
usethebitcoin.comThe 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.
Key Facts
Potential Impact
- 01
Fund administrators may publish updated holdings data in the next daily report.
Transparency Panel
Related Stories
ibtimes.comSEC Chair Paul Atkins Says Congress Will Pass Crypto Legislation
SEC Chair Paul Atkins stated he is confident Congress will pass crypto market structure legislation. He added that President Trump will sign the bill into law.
asiaone.comIran Says Strait of Hormuz Management Belongs to Iran and Oman
Iran's Foreign Ministry spokesperson stated that control of the Strait of Hormuz must be decided solely by Iran and Oman. The spokesperson also said no agreement has been reached with the United States and that current focus remains on ending the war.
cnbc.comFed Official Highlights Regulatory Barriers to AI Productivity Gains
A Federal Reserve official stated that productivity growth remains key to economic expansion and that regulatory hurdles are the main obstacle to sustained gains from artificial intelligence.