🔥👉BlackRock's Bitcoin ETF😱💥

Posts First Loss Since May: Cause for Concern?

BlackRock's IBIT lost $13.5 million on Thursday, marking its first net outflows in nearly four months amid negative outflows among Bitcoin spot ETFs in the United States.

BlackRock's Bitcoin spot exchange-traded fund (ETF) has seen more than $13 million in net outflows, marking the first time since May that the investment vehicle has lost more funds than it has gained.

The Ishares Bitcoin Trust ETF (IBIT), which is the largest Bitcoin spot ETF by total assets, saw net outflows of about $13.5 million on Thursday, according to data from investment management firm Farside Investors. This is the second time Blackrock’s Bitcoin fund has seen negative outflows since its launch in January.

IBIT’s losses came as investors collectively pulled roughly $71,800 from U.S. spot Bitcoin ETFs on Thursday — the third consecutive day of negative outflows for the funds, according to Farside data.

Grayscale’s spot Bitcoin ETF lost roughly $22.7 million on Thursday, while Fidelity’s fund saw $31.1 million in outflows, Farside data shows. Meanwhile, Bitwise’s BITB lost roughly $8.1 million, according to the same data.

While that trend may be alarming to some Bitcoin holders, investors shouldn’t panic just yet, one analyst told Decrypt .

“There’s not too much concern here,” Glassnode analyst Brett Singer said Friday. “They’ve had very steady growth and the amount withdrawn seems insignificant.”

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