After a remarkable 31-day run of continuous inflows, the BlackRock Bitcoin ETF just experienced its largest daily outflow to date—signaling a sudden shift in investor sentiment.
$430M Exit Marks End of Inflow Streak
On May 30, BlackRock’s iShares Bitcoin Trust (IBIT) saw a massive outflow of $430.8 million, according to Farside data. This surpasses its previous record from February 26, when outflows reached $418.1 million.
Despite this decline, BlackRock remains a heavyweight in the market. Since its spot Bitcoin ETF launched in January 2024, the firm has accumulated nearly $70 billion in Bitcoin holdings.
ETF analyst Nate Geraci commented on the sharp reversal, stating, “What a run over the past 30+ days… Not sure I have words to describe how ridiculous this is.”
Spot Bitcoin ETFs See Broader Withdrawals
The trend didn’t stop at BlackRock. On the same day, all 11 U.S. spot Bitcoin ETFs saw combined outflows totaling $616.1 million, following a $346.8 million outflow the day before. That drop ended a 10-day streak of net inflows across all issuers.
Interestingly, on May 29, BlackRock still posted inflows, defying the broader trend. Kyle Chasse, founder of Master Ventures, noted,
Institutional Strategy Over Retail Panic
Chasse also addressed concerns over investor behavior, stating this wasn’t a retail panic. Instead, it’s a “quiet transfer of supply to the strongest hands.”
This suggests institutional players may be reshuffling their strategies rather than exiting the market altogether.
Bitcoin Price Fails to Reflect ETF Inflows
Despite the strong inflows earlier in May, Bitcoin’s spot price hasn’t responded as expected. As of now, BTC trades at $103,700, down 2.27% in 24 hours .
The trading week ending May 23 alone brought in $2.75 billion in spot Bitcoin ETF inflows.
