BlackRock’s iShares Bitcoin Trust sees record single-day outflow of $418 million amid sector sell-off
BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin exchange-traded fund (ETF), saw record-breaking withdrawals on Feb. 26 amid the sector’s prolonged sell-off during the last seven trading days.
Data from SoSoValue shows that IBIT lost 5,002 BTC, valued at $418 million, marking the fund’s highest single-day outflow. This outflow surpassed its previous record of $332 million set in January.
As a result, IBIT, which manages approximately $48 billion in assets, played a significant role in the day’s total sector-wide outflows of $756 million.
Fidelity’s Wise Origin Bitcoin Trust (FBTC) also experienced significant selling pressure, with investors withdrawing $145.69 million worth of Bitcoin. Meanwhile, the Ark 21Shares Bitcoin ETF (ARKB) recorded $60.46 million in outflows, and Grayscale’s Mini Bitcoin Fund saw $55.97 million leave its holdings.
Other funds also faced sell-offs, albeit at lower levels. Grayscale’s GBTC shed $22.66 million, while Invesco Galaxy’s BTCO registered $16.83 million in withdrawals. Bitwise’s ETF lost $13.65 million, while WisdomTree’s BTCW and Franklin Templeton’s EZBC reported outflows of $11.52 million and $9.69 million, respectively.
Meanwhile, this wave of exits followed an even larger outflow of $937.7 million on Feb. 25, extending a seven-day sell-off streak. Over the past week, nearly $3 billion has left Bitcoin ETFs, underlining the growing investor caution amid market uncertainty.
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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