According to Bloomberg compiled data, BlackRock's iShares Bitcoin Trust (IBIT) experienced its longest single-week outflow of funds since its launch in January 2024.

In the five weeks ending on November 28th, investors withdrew over $2.7 billion from this ETF. As of Thursday, the ETF faced another $113 million redemption and is expected to see a sixth consecutive week of net outflows. IBIT currently has over $71 billion in assets under management.

Blockchain analytics company Glassnode stated that this trend signifies a significant reversal of the continuous inflow mechanism that previously supported the price, reflecting a cooling off of new capital allocation to this asset.

[BlockBeats News]

BlackRock Bitcoin ETF Sees Over $2.7 Billion in Outflows for Five Consecutive Weeks