BlackRock’s 31-Day Bitcoin ETF Inflow Streak Ends With Record $430.8M Outflow
Largest Outflow in IBIT History Marks Shift in Bitcoin ETF Momentum
BlackRock’s historic 31-day run of consecutive inflows into its spot Bitcoin ETF has come to an abrupt halt. On May 30, the asset management giant posted a record-breaking outflow of $430.8 million from its iShares Bitcoin Trust (IBIT) — a figure that surpasses its previous highest single-day outflow of $418.1 million, recorded on February 26.
This marks a pivotal moment for the world’s largest asset manager, which had been consistently accumulating Bitcoin through IBIT since the product’s launch in January 2024. The milestone also underscores broader market behavior, as all 11 U.S. spot Bitcoin ETFs saw a combined outflow of $616.1 million on the same day — their second consecutive day of losses.
Bitcoin ETFs See $44.35 Billion in Net Inflows Since January
Despite this downturn, the overall performance of spot Bitcoin ETFs since inception remains historically significant. These funds have amassed $44.35 billion in net inflows since launching earlier this year, according to data from Farside.
ETF analyst Nate Geraci, commenting on X (formerly Twitter), remarked, “What a run over the past 30+ days… BlackRock is now pushing approximately $70 billion in Bitcoin holdings.” His comment underscores the scale and momentum BlackRock has maintained in this space, even as sentiment shifts.
Retail Panic or Strategic Rotation?
Not everyone sees the outflows as cause for concern. Kyle Chasse, founder of Master Ventures, argued that the movement reflects strategic repositioning rather than investor fear.
“Every other issuer saw red. BlackRock kept buying… big brain energy right there,” Chasse stated, referring to BlackRock’s continued inflows on May 29, when the broader ETF market saw a net outflow of $346.8 million.
He added: “The sell-off isn’t retail panic. It’s literally the quiet transfer of supply to the strongest hands.”
Disconnect Between ETF Inflows and Bitcoin Price
While investor interest in Bitcoin ETFs remains high, the cryptocurrency’s spot price has not mirrored these inflows with proportional gains.
Nick Forster, founder of Derive, pointed out the disconnect:
“Despite significant inflows into Bitcoin ETFs, notably over $6.2 billion into BlackRock’s iShares Bitcoin Trust in May, Bitcoin’s price hasn’t experienced a commensurate rise.”
As of the latest market data, Bitcoin is priced at $103,700, marking a 2.27% drop in the past 24 hours, though it’s still up 9.14% over the past month.
In just the trading week ending May 23, spot Bitcoin ETFs saw $2.75 billion in inflows, a testament to their growing importance in institutional portfolios — even if the price action doesn’t immediately reflect it.
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