BlackRock Bitcoin ETF Sees $122M Outflow

BlackRock saw its spot Bitcoin exchange traded fund, known as IBIT, record a net outflow of $122.7 million on July 31. Data from Farside Investors shows this redemption equals roughly 1,948 Bitcoin sold off by investors in a single day.

This movement was part of a wider trend across the United States. Collectively, all spot Bitcoin exchange traded funds lost more than $265 million in net outflows during the same period, showing a cautious mood among institutional investors.

Traders are now keeping a close eye on upcoming fund flows to see if this is a short term correction or the start of a longer selling trend. Market watchers suggest paying attention to daily volume reports as sentiment shifts.