BlackRock, the leading global asset manager, has ended its impressive 31-day inflow streak for its spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), with a staggering outflow of $430.8 million recorded on May 30, 2025. Previously, the most significant outflow day for the ETF was $418.1 million on February 26, highlighting the scale of this recent drop. ETF analyst Nate Geraci noted this outflow comes after BlackRock amassed approximately $70 billion in Bitcoin holdings since the ETF's launch in January 2024. On top of BlackRock's figures, all 11 US spot Bitcoin ETFs recorded a total net outflow of $616.1 million on the same day.
Interestingly, the previous day saw a smaller outflow of $346.8 million, as BlackRock continued to attract inflows, which stood in sharp contrast to other issuers in the market. Kyle Chasse, founder of Master Ventures, remarked that despite the overall market downturn, BlackRock's purchasing strategy indicated strong conviction.
The recent activity in Bitcoin ETFs has raised questions about the correlation with Bitcoin's price, which has seen a downturn to $103,700, dropping 2.27% in the past 24 hours. Nick Forster, founder of Derive, pointed out that despite the significant inflows into BlackRock's ETF, the spot price of Bitcoin has not experienced a similar upward shift. In May alone, BlackRock's trust saw inflows exceeding $6.2 billion, juxtaposed against the price movement.
These developments suggest a transfer of Bitcoin supply to more resilient investors rather than a panic among retail traders, signaling differing market sentiments within the crypto space.
Interestingly, the previous day saw a smaller outflow of $346.8 million, as BlackRock continued to attract inflows, which stood in sharp contrast to other issuers in the market. Kyle Chasse, founder of Master Ventures, remarked that despite the overall market downturn, BlackRock's purchasing strategy indicated strong conviction.
The recent activity in Bitcoin ETFs has raised questions about the correlation with Bitcoin's price, which has seen a downturn to $103,700, dropping 2.27% in the past 24 hours. Nick Forster, founder of Derive, pointed out that despite the significant inflows into BlackRock's ETF, the spot price of Bitcoin has not experienced a similar upward shift. In May alone, BlackRock's trust saw inflows exceeding $6.2 billion, juxtaposed against the price movement.
These developments suggest a transfer of Bitcoin supply to more resilient investors rather than a panic among retail traders, signaling differing market sentiments within the crypto space.
