BlackRock's Bitcoin ETF sees outflows for five consecutive weeks, totaling over $2.70 billion

On December 5, according to data compiled by Bloomberg, BlackRock's iShares Bitcoin Trust (IBIT) experienced its longest single-week capital outflow since its launch in January 2024, with investors withdrawing over $2.70 billion from the ETF over the five weeks ending November 28.

As of Thursday, the ETF faced another $113 million in redemptions, putting it on track for a sixth consecutive week of net outflows. IBIT currently has over $71.0 billion in assets under management.

Blockchain analytics firm Glassnode said this trend marks a clear reversal from the sustained inflow mechanism that previously supported prices, reflecting cooling new capital allocation toward the asset.

[BlockBeats]