Ah, mesdames et messieurs! Gather ’round as we unveil the grand spectacle of BlackRock, the titan of asset management, which has, in a most dramatic fashion, concluded its 31-day reign of inflows into its Bitcoin exchange-traded fund (ETF). What a twist! 🎭
On the fateful day of May 30, our dear BlackRock’s iShares Bitcoin Trust (IBIT) experienced a most unfortunate outflow, a staggering $430.8 million, as if the very heavens conspired against it! Prior to this calamity, the largest outflow was a mere $418.1 million back on February 26. Oh, how the mighty have fallen! 💔
Behold the Day of the Great Outflow!
Our astute ETF analyst, Nate Geraci, took to the digital stage on May 31, exclaiming, “What a run over the past 30+ days, though!” Indeed, dear Nate, it was a run that has now turned into a most comical retreat! BlackRock is now “pushing” a staggering $70 billion in Bitcoin (BTC) holdings since its inception. “Not sure I have words to describe how ridiculous this is,” he lamented. Oh, the irony! 😂
In a twist of fate, the 11 US spot Bitcoin ETFs collectively recorded net outflows for the second day in a row, totaling a rather dismal $616.1 million. What a performance! 🎪
Just a day prior, on May 29, this merry band of ETFs ended their 10-day inflow streak with an outflow of $346.8 million. Yet, BlackRock, in a display of audacity, still managed to attract some inflow, much to the astonishment of the industry. Bravo! 👏
Master Ventures’ founder, Kyle Chasse, chimed in with a flourish, “Every other issuer saw red. BlackRock kept buying…big brain energy right there.” Ah, the wit! 🧠
Fear Not, For This is Not Retail Panic!
“The sell-off isn’t retail panic. It’s literally the quiet transfer of supply to the strongest hands,” Chasse added, as if to soothe the anxious souls. How reassuring! 😌
Meanwhile, the price of Bitcoin stands at a modest $103,700, down 2.27% over the past 24 hours, according to the oracle known as CoinMarketCap. 📉
On this very day, Derive’s founder, Nick Forster, pointed out to CryptoMoon that despite the significant inflows into Bitcoin ETFs, the spot price remains as stubborn as a mule. “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,” he noted. Oh, the tragedy! 🎭
In the trading week ending May 23 alone, spot Bitcoin ETFs recorded a total of $2.75 billion in inflows. What a tale of riches and woe! 💰
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2025-05-31 10:01