Key Points
- BlackRock’s IBIT recorded $13.5 million in outflows on August 29.
- This marks the second day of outflows for the BTC ETF, the first being May 1.
According to the latest official reports coming from SoSoValue, BlackRock’s Bitcoin ETF, IBIT, recorded its second day of outflows on August 29, since the launch of their crypto product back in January.
IBIT saw outflows totaling $13.51 million yesterday.
Besides BlackRock’s IBIT, Grayscale’s Bitcoin ETF, GBTC also recorded outflows the other day of $22.68 million, Fidelity’s Bitcoin ETF, FBTC, saw outflows of $31.11 million, Bitwise’s Bitcoin ETF, BITB, recorded outflows of $8 million, and Valkyrie’s Bitcoin ETF, BRRR, saw outflows of almost $1.7 million.
The only Bitcoin ETF that saw inflows on August 29 was Ark and 21Shares’ ARKB which recorded an influx of $5.34 million.
The total outflows of the Bitcoin ETFs in the US were $71.73 million yesterday.
August 29 marks the second day when BlackRock sold some of its Bitcoin reserves.
BlackRock’s Bitcoin Reserves
The first time BlackRock’s Bitcoin ETF, IBIT recorded outflows this year was May 1, when the crypto product saw an outflux of $36.93 million.
As of August 29, the total net assets locked in BlackRock’s Bitcoin ETF were $21.22 billion.
BlackRock’s crypto product IBIT was launched along with 10 other Bitcoin ETFs on January 11, 2024, and on that day, IBIT recorded an inflow of $111.68 million.
The day with the highest inflow in BlackRock’s IBIT was March 12, when the crypto product recorded inflows of almost $849 million.
According to official data, BlackRock’s IBIT fund was holding 357.737 BTC as of August 29.
BlacRock’s IBIT – Unprecendet Growth
Back in March, Larry Fink, BlackRock’s CEO, made some bullish remarks about Bitcoin via Fox Business.
During the interview, he said that the company’s spot Bitcoin ETF, IBIT was experiencing unprecedented growth, and this made it the fastest-growing ETF in the history of the firm.
Back then, he also highlighted his optimism regarding Bitcoin and its long-term viability.
