{"id":91777,"date":"2024-08-30T04:14:19","date_gmt":"2024-08-30T08:14:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=91777"},"modified":"2024-08-30T04:15:41","modified_gmt":"2024-08-30T08:15:41","slug":"blackrock-bitcoin-etf-sees-second-ever-outflow","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrock-bitcoin-etf-sees-second-ever-outflow\/","title":{"rendered":"BlackRock’s Bitcoin ETF Sees Second-Ever Outflow of $13.5M"},"content":{"rendered":"\n

BlackRock\u2019s Bitcoin ETF<\/a> has experienced its second-ever day of outflows as\u00a0the price of Bitcoin slipped below $59,000.<\/p>\n\n\n\n

\"BlackRock's<\/figure>\n\n\n\n

BlackRock\u2019s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) has experienced its second outflow since its launch in January.<\/p>\n\n\n\n

The IBIT ETF recorded a net outflow of $13.5 million on August 29, which marks its second outflow since it saw a $36.9 million net outflow on May 1.<\/p>\n\n\n\n

According to data from Farside Investors\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, this day also tied for the worst outflow day on record for Bitcoin ETFs, with a total of $563.7 million.<\/p>\n\n\n\n

On August 29, the 11 spot Bitcoin ETFs based in the United States collectively recorded net outflows amounting to $71.8 million.<\/p>\n\n\n\n

BlackRock\u2019s fund ranked third in outflows, trailing the Fidelity Wise Origin Bitcoin Fund (FBTC), which had $31.1 million in net outflows, the largest for that day, and the Grayscale Bitcoin Trust (GBTC), which saw $22.7 million in outflows.<\/p>\n\n\n\n

IBIT\u2019s day of net outflows follows a period on August 26 when it recorded $224.1 million in net inflows, the largest since July 22, when it experienced inflows of $526.7 million.<\/p>\n\n\n\n

Among the Bitcoin ETFs, the ARK 21Shares Bitcoin ETF (ARKB) was the only one to experience net inflows on August 29, with $5.3 million coming into the fund.<\/p>\n\n\n\n

These recent outflows from Bitcoin ETFs are happening against the backdrop of a broader decline in Bitcoin\u2019s price, which has dropped around 3.43% over the past seven days to $58,751, according to CoinMarketCap<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

At the same time, US-based spot Ether ETFs experienced minor net outflows of $1.7 million on August 29, with several funds having no activity.<\/p>\n\n\n\n

The Grayscale Ethereum Mini Trust (ETH) was the only ETF that reported a net inflow, bringing in $3.6 million. <\/p>\n\n\n\n

However, this was not enough to offset the $5.3 million net outflow from its higher-fee counterpart, the Grayscale Ethereum Trust (ETHE).<\/p>\n\n\n\n

Since its launch in July, ETHE has seen net outflows almost every day, totaling $2.56 billion in outflows so far.<\/p>\n\n\n\n

ETH's price has also been trending downward, with a 5.64% decrease over the last seven days, bringing it to $2,517.06, as reported by CoinMarketCap.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock\u2019s Bitcoin ETF has experienced its second-ever day of outflows as\u00a0the price of Bitcoin slipped below $59,000. BlackRock\u2019s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) has experienced its second outflow since its launch in January. The IBIT ETF recorded a net outflow of $13.5 million on August 29, which marks its second outflow since it […]<\/p>\n","protected":false},"author":56,"featured_media":91779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,1613,21584,710,128,1305],"class_list":["post-91777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-investors-trust","tag-business","tag-ethereum","tag-united-states"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/BlackRocks-Bitcoin-ETF-Sees-Second-Ever-Outflow-of-13.5M.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=91777"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/91777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/91779"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=91777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=91777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=91777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}