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BlackRock's IBIT extends bitcoin ETF outflow streak to seven days

Spot Bitcoin ETFs recorded $201 million in net outflows on Monday, with BlackRock's IBIT marking its seventh straight day of withdrawals.

By Dextape Desk1 min read

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Quick take

  1. US spot bitcoin ETFs posted $201 million in net outflows Monday, with BlackRock's IBIT leading the withdrawals.
  2. IBIT has now recorded seven straight days of outflows, with cumulative redemptions reaching $1.66 billion since October 30.
  3. The figures track how much money is leaving large bitcoin funds, which matters for readers watching flows into crypto products.

Bitcoinist reported that US spot bitcoin ETFs recorded net outflows of $201 million on Monday, while BlackRock's IBIT alone posted $213 million in outflows. Since October 30, the IBIT fund has seen cumulative redemptions of $1.66 billion, according to data the outlet credits to Farside Investors.

IBIT has now posted seven straight days of outflows. Friday outflows were $412 million, and year-to-date net withdrawals are near $1.1 billion, according to the same Farside figures. Morgan Stanley's MSBT offset some of the pressure with $22 million in inflows, while spot Ether ETFs saw outflows of about $185 million on Monday.

Market sentiment moved too, with the Crypto Fear & Greed Index rising to 32. Bitcoin was trading in a range of roughly $74,200 to $74,600. Separately, Coinbase's national trust bank charter took effect, a development the coverage notes alongside the flow data. The coverage does not describe further steps for these funds.

Sources

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