Bitcoin ETF Outflows Surge with IBIT Losing $400M After Record Streak

IBIT ended its 30-day no-outflow streak with a $430.8 million exit during a broad sector pullback.

Despite outflows, IBIT’s AUM remains over $70 billion, securing a top 25 ETF spot globally.

Bitcoin ETFs gained $9 billion in five weeks, contrasting with gold ETF outflows totaling $3 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded a $430.8 million outflow, marking its first day of net losses in over a month. The shift occurred as the price of Bitcoin declined below $105,000, sparking broader outflows across major spot Bitcoin ETFs.

Alongside IBIT, Fidelity’s FBTC posted $13.7 million in outflows, while Bitwise’s BITB saw $35.3 million withdrawn. Ark Invest’s ARKB reported a $120.1 million exit. The cumulative daily net outflow for all 11 Bitcoin ETFs stood at $616.1 million, the highest in over a month. This ended a two-week streak of inflows into the sector.

AUM Remains Strong Despite Outflows

Despite the outflows, IBIT’s assets under management remain above $70 billion. This places the fund among the top 25 ETFs globally. IBIT attracted $6.5 billion in inflows in May alone, setting a monthly record for the fund. Bloomberg analyst Eric Balchunas noted that no other ETF in the top 25 has achieved this scale so quickly.

Over the last five weeks, spot Bitcoin ETFs collectively drew in more than $9 billion. In contrast, gold ETFs saw $3 billion in outflows during the same period. Net inflows into Bitcoin ETFs since launch total around $45 billion, despite significant withdrawals from Grayscale’s GBTC, which lost $23.21 billion after converting to an ETF.

Bitcoin Price Faces Pressure but Analysts Remain Optimistic

Bitcoin dropped over 4 percent in the past week, falling from $112,000 to around $104,000. CryptoQuant analysts maintain a bullish outlook, citing the firm’s Bull Score Index at 80. The analysts expect continued upward momentum until the index falls below 50.

The 30-day demand growth for Bitcoin recently reached 229,000 BTC, nearing the December 2024 peak of 279,000 BTC. Whale holdings grew by 2.8 percent last month, which could signal slower accumulation. However, profit-taking remains limited based on the Net Realized Profit and Loss indicator.

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