BlackRock’s Bitcoin ETF IBIT Sheds $405M as Outflows Hit Multi-Month High
Photo: TheCoinrise
Redemptions from the world's largest spot Bitcoin fund forced a sizable sell-off, marking its steepest outflow stretch since June. BlackRock sold approximately $405 million worth of Bitcoin linked to its iShares Bitcoin Trust, the exchange-traded fund known by its ticker IBIT. The sale came as redemption requests from fund holders accumulated, forcing the asset manager to reduce its underlying Bitcoin holdings. CryptoBriefing first reported the transaction on November 3. Separately, Cointelegraph reported that IBIT experienced its biggest outflow period since June.
Source: TheCoinrise
