Withdrawing 4.4 billion over 13 days in a row, is the ETF narrative shifting to a bear market or just normal portfolio adjustment? Blackstone still holds 780k BTC, they have a strong hand.

According to CoinJie.com news, the Bitcoin ETF listed in the United States has experienced a record-breaking 13 consecutive trading days of net outflows, with investors withdrawing approximately $4.4 billion since mid-May. This ongoing sell-off is in line with a sharp drop in Bitcoin’s price, resulting in the ETF’s holdings decreasing by more than 51,700 BTC over the past month. BlackRock’s IBIT ETF accounted for most of the withdrawn funds, and analysts are divided over the reasons behind the decline. On Wednesday, spot Bitcoin ETFs once again recorded a net outflow of $3.966 million, extending this outflow trend. Despite the recent increase in selling pressure, BlackRock remains the largest Bitcoin holder among ETF providers, managing nearly 786,800 BTC.