BlackRock’s IBIT sees $144M in net outflows as bitcoin ETFs drop

Bitcoin ETFs had a rough Wednesday. Spot bitcoin and ether ETF products collectively shed more than $520 million in a single session. BlackRock’s iShares Bitcoin Trust, known as IBIT, recorded approximately $144 million in net outflows on the day in question. That figure lands alongside the previous session’s $161.7 million redemption from the same fund. Who sold, and how much Fidelity’s FBTC was the heaviest single contributor to the prior session’s selloff, with $214.8 million leaving the fund. Bitwise’s BITB, ARK 21Shares’ ARKB, and Grayscale’s GBTC each contributed smaller but meaningful outflows to the overall tally. When combined with ether ETF redemptions, the single-day total crossed $520 million. To put that number in context: the same group of funds pulled in $731 million in a single day earlier in September. Total net outflows across U.S. spot bitcoin ETFs reached approximately $450.4 million in the September 15 session alone, which researchers described as the largest single-day redemption figure since June. Why it’s happening The short answer is that rising Treasury yields make risk assets less attractive, and bitcoin ETFs are not immune to that dynamic. When the retur...