Institutional selling drove the second-largest daily withdrawal from IBIT as bitcoin fell below $73,000 amid geopolitical tensions.
BlackRock’s iShares Bitcoin Trust (IBIT) saw $527.84 million in net outflows on Wednesday, its second-largest single-day withdrawal since its January launch. The outflow missed the record by less than $500,000, reflecting a broader pullback in crypto markets tied to escalating Middle East risks.
The 11 U.S. spot bitcoin ETFs collectively lost $733.43 million, extending a two-week outflow streak that has drained over $2 billion. Bitcoin’s price dipped below $73,000, compounding pressure from a $1.29 billion dark-pool block sale in IBIT on Tuesday and a shift in institutional sentiment.
IBIT holds approximately $59 billion in assets, representing nearly 4% of bitcoin’s total supply. The fund remains the largest institutional vehicle for bitcoin exposure, though recent outflows signal caution amid macroeconomic and geopolitical uncertainty.