BlackRock reports its second day of outflows since its January debut

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BlackRock’s Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust, suffered a setback on Aug. 29, with investors pulling in $13.5 million, data from Farside Investors shows. This marks the second day of outflows since the fund’s debut in January.

BlackRock’s iShares Bitcoin Trust, trading under the ticker symbol IBIT, has posted consistent net capital nearly every day since its trading debut. As of August 29, IBIT has attracted nearly $21 billion in net inflows, with its Bitcoin holdings exceeding 350,000 Bitcoin (BTC).

The fund saw its first exit on May 1, totaling approximately $37 million. On the same day, U.S. spot Bitcoin ETFs saw their biggest daily outflow, with about $564 million withdrawn.

So far this week, IBIT only reported earnings on Monday, with $224 million in new investments. Thursday’s negative performance came after two days of zero flows.

ARK Invest/21Shares’ Bitcoin ETF was the only fund to report net inflows on Thursday, while competing Bitcoin ETFs managed by Fidelity, Bitwise, Valkyrie and Grayscale saw a cumulative net outflow of more than 63 million dollars.

Overall, the group of U.S. spot Bitcoin ETFs ended yesterday with net outflows of nearly $72 million, extending its losing streak to three consecutive days.

Bitcoin fails to hold $61,000

The negative performance of US spot Bitcoin ETFs comes amid continued stagnation in Bitcoin prices.

Bitcoin’s recent attempt to recover a stable position above $61,000 was shocked, with the price falling back below $59,000 during Thursday’s US trading session, according to data from TradingView.

Despite a brief rally, Bitcoin is only marginally up 0.6% over the past 24 hours. At the time of writing, BTC is trading at around $59,000, down around 10% over the past month.

Meanwhile, Ether also struggled, falling slightly by 0.5% and holding just above the $2,500 mark.

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