BlackRock Sells Bitcoin AGAIN! (Numbers Are Worrying)
Photo: CaptainAltcoin
BlackRock’s iShares Bitcoin Trust recorded another sizable redemption on October 16, with $71.8 million leaving IBIT as institutional crypto flows remained weak. The headline can sound more dramatic than the underlying mechanics. This was not evidence that BlackRock itself made a proprietary decision to dump Bitcoin. ETF investors redeemed shares, forcing the fund structure to reduce the Bitcoin backing those shares. IBIT accounted for most of the $82.4 million in total U.S. spot Bitcoin ETF outflows that day. That distinction is important, but the flow still tells us something about demand.
Source: CaptainAltcoin
