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Bitcoin ETFs Experience Another Wave of Outflows, BlackRock in Focus
Data from Lookonchain indicates that another wave of outflows has been observed in the Bitcoin ETF (Exchange-Traded Fund) space, with a focus on BlackRock’s IBIT ETF. According to recent data, it appears that investors have been liquidating their positions in this particular fund.
Specifically, the largest outflow was seen in IBIT, which lost 689 BTC (approximately $61.7 million at current prices). This drastic change reflects the actions of holders who were actively selling within the ETF.
Despite these losses, BlackRock still holds a substantial position in Bitcoin, owning a total of 571,970 BTC, worth approximately $51.23 billion at present market rates. It’s essential to note that this figure is less than half of the overall total held by all Bitcoin ETF issuers – an astonishing 1,127,831 BTC (approximately $101 billion).
These events highlight the tumultuous nature of the cryptocurrency market in recent times.
Source: https://u.today/bitcoin-etfs-experience-another-wave-of-outflows-blackrock-in-focus
