The Ishares Bitcoin Trust (Ibit), Bag) Bitcoin’s bag (ETF) in cash managed by Blackrock, faced a significant setback.
For the first time in 30 days, The fund recorded capital outputs for 430 million dollarsbreaking a stability streak that had consolidated it as a leader in the ETF market, according to Soso Value data.
This movement marked the largest capital output in dollars since the launch of the fund in January 2024, with a volume of transactions that reached 2.7 billion dollars.
This volume reflects the magnitude of the operations carried out in the ETF during the day, evidencing a change in the behavior of investors.
Despite this stumble, the background maintains a dominant position. In just 17 months from your debut, Ibit has accumulated 70,000 million of dollars in assets under management.
This milestone consolidates it as the largest Bitcoin ETF in the world, since I reached a year ago, even in a context of volatility.
A bad day for Bitcoin ETFs
The Ibit was not alone in registering losses. Other Bitcoin to cash funds They also faced capital exits on Friday.
The Fidelity Wise Origin Bitcoin Fund (FBTC) reported outings for 13 million dollars, the Bitwise Bitcoin ETF (BITB) for 35 million, the ARK 21Shares Bitcoin ETF (ARKB) for 120 million and the grayscale bitcoin mini trust etf (BTC) for 16 million. These figures represent the highest joint capital departure since February 26.
Meanwhile, the rest of Bitcoin’s ETFs in cash did not record inputs or outputs. In total, the funds recorded 616 million dollars.
Impact on the price of Bitcoin
The performance of the ETF had a direct effect on the Bitcoin market. These funds operate buying and maintaining bitcoin to support their actions, which makes them a key pillar in currency price dynamics.
When investors withdraw capital, managers can be forced to sell part of their Bitcoin holdings to cover those redemptions. This increase in supply, without equivalent demand, generates a bearish pressure on the price of the asset.
In the last seven days, the price of Bitcoin fell 2.7%, standing at $ 104,000 in the current day. This setback arrives after having reached a historical maximum of $ 111,000 in May, as reported by cryptootics. This reflects market sensitivity to ETF movements.
