BlackRock’s IBIT records $405 million outflow as US Bitcoin ETFs see renewed withdrawals

BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest single-day withdrawal since June, as US-listed spot Bitcoin ETFs opened November with heavy outflows. According to figures from Farside Investors, the funds saw net outflows totaling $398.6 million on Monday, with BlackRock’s IBIT accounting for $405.3 million of that sum. This withdrawal marks IBIT’s highest daily outflow since June 26, when $444.5 million was pulled from the fund. While IBIT led the outflows, Fidelity’s Wise Origin Bitcoin Fund (FBTC) managed to attract $6.7 million on Monday, providing a modest counterbalance to the overall withdrawals.

Source: CoinTurk News