BlackRock just threw cold water on the Bitcoin ETF hype train.
🇺🇸 BlackRock's iShares Bitcoin Trust (IBIT) saw approximately $1.41B in Bitcoin outflows over the month, making it the 2nd worst performance since the fund went live. The highlight of the bleeding? A jaw-dropping $527.8M pulled out in a single day — just a whisker away from breaking the all-time withdrawal record.
But here's where it gets really interesting.
An anonymous whale quietly offloaded $1.29B worth of IBIT shares through a dark pool transaction, all while U.S. spot Bitcoin ETFs hemorrhaged over $2B across a two-week stretch. Institutions haven't hit the panic button just yet — but the flow data is sending signals that can't be ignored.
For months, the market rode high on the story of surging ETF demand.
Now the plot has flipped — and everyone is holding their breath watching that same demand quietly shift into distribution mode.
Smart money doesn't exit with sirens blaring. Liquidity fades into the background long before the chaos shows up on your screen. 👀📉
