BlackRock sells $104.97 million in Bitcoin as ETF sees fourth net outflow this week

BlackRock, a major global asset management firm, has continued to reduce its exposure to Bitcoin , extending a series of sell-offs that began in late October. This week, the firm’s Bitcoin ETF, known by its ticker IBIT, has experienced sustained investor withdrawals amid heightened price volatility in the market. Recent data compiled by SosoValue indicate that BlackRock’s Bitcoin ETF has registered its fourth net outflow of the week. Investors have pulled out capital in consecutive daily sessions, with no new Bitcoin purchases reported by the asset manager so far this month.

Source: CoinTurk News