BlackRock’s IBIT drives $445 million US spot Bitcoin ETF outflow
Bitcoin fell to about $59,400 as U.S. spot Bitcoin ETFs posted nearly $691 million in net outflows on Thursday, ahead of a $10.6 billion options expiry that coincided with heavy liquidations.
Bitcoin dropped to around $59,400 after U.S. spot Bitcoin ETFs recorded nearly $691 million in net outflows on Thursday, marking the largest one-day withdrawal since May 27. The move came ahead of $10.6 billion in Bitcoin options expiry on Friday and alongside more than $1.1 billion in leveraged crypto liquidations over 24 hours, including $875 million in long positions. Earlier SoSoValue data had shown $445 million in net outflows on June 26, entirely driven by BlackRock’s IBIT, while total net assets across U.S. spot Bitcoin ETFs stood at $72.818 billion and cumulative historical net inflows at $51.606 billion. The latest selloff highlights how ETF redemptions, derivatives expiry and forced unwinds in leveraged positions can amplify short-term price pressure in crypto markets.
- spot Bitcoin ETF: An exchange-traded fund that holds Bitcoin directly rather than through derivatives.
- options expiry: The deadline when options contracts settle or expire, often increasing market volatility around the event.
- liquidations: Forced closure of leveraged trading positions when losses trigger exchange margin thresholds.