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BlackRock’s Bitcoin ETF Experiences Record $2.2 Billion in Outflows in March

BlackRock’s Bitcoin ETF Experiences Record $2.2 Billion in Outflows in March

U.S. Bitcoin ETFs face nearly record monthly redemptions, with BlackRock’s IBIT taking the largest hit as BTC drops to multi-month lows.

BTC

Summary

U.S.-listed Bitcoin ETFs have seen $3.5 billion in March outflows, close to February’s $3.6 billion record. BlackRock’s iShares Bitcoin Trust accounted for $2.2 billion in redemptions, marking its worst month since launch. The withdrawals pushed Bitcoin’s price down to $80,553, according to Citi Research, which estimates that a $1 billion ETF redemption can move Bitcoin’s price by roughly 3.4%.

Terms & Concepts
  • Bitcoin ETF: An exchange-traded fund that tracks the price of Bitcoin, allowing investors to gain exposure without directly holding the cryptocurrency.
  • Outflow: The total amount of funds withdrawn from an investment product over a specific period.