BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) shed $527.84 million on Wednesday, its second-largest single-day outflow, as US airstrikes near the Strait of Hormuz reignited Middle East tensions.
All 11 US Spot Bitcoin ETFs Lost $733M In A Single Day
The broader ETF complex hemorrhaged $733.43 million on Wednesday alone, with Fidelity’s FBTC (BATS:FBTC) shedding $60.30 million and Grayscale’s GBTC (NYSE:GBTC) losing $104.76 million alongside IBIT.
The complex has now posted outflows for several consecutive sessions, pulling more than $2 billion from the market over two weeks as Bitcoin slid from above $82,000 on May 6 to under $73,000.
Wednesday’s IBIT outflow came within $500,000 of the fund’s all-time single-day record of $528.3 million set on January 30.
IBIT holds roughly $59 billion in assets …
