According to Bloomberg, BlackRock's iShares Bitcoin Trust has recorded its longest streak of consecutive weekly outflows since its launch in January 2024, indicating that institutional demand for BTC remains weak despite stabilizing BTC prices.

Data compiled by Bloomberg shows that over the five weeks through November 28, investors withdrew more than $2.7 billion from the exchange-traded fund (ETF).

On Thursday, an additional $113 million was redeemed, putting the ETF on track for a sixth consecutive week of net outflows.

[Foresight News]

BlackRock's Bitcoin ETF has seen outflows of $2.7 billion over the past five weeks, marking the longest consecutive outflow period since its launch.