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BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest single-day outflow of 【$430.8 million】 on May 30, abruptly ending a 31-day inflow streak that began when the product launched in January 2024. This surpasses its previous outflow record of $418.1 million set last February, according to Farside investment data.
While the broader U.S. spot Bitcoin ETF market saw 【$616.1 million】 in net outflows across 11 funds, analysts note the movement reflects strategic repositioning rather than panic selling. "This isn't retail investors fleeing—it's supply transferring to stronger hands," observed Master Ventures founder Kyle Chasse, highlighting BlackRock's continued accumulation during earlier market dips.
Despite ETF inflows exceeding 【$6.2 billion】 in May alone, Bitcoin's spot price remained at $103,700—a 2.27% daily drop but still up 9.14% monthly. Derive founder Nick Forster noted to Cointelegraph: "The expected price surge from these massive inflows simply hasn't materialized," suggesting complex market dynamics at play beyond traditional supply-demand models.
ETF analyst Nate Geraci revealed the asset manager now oversees approximately ——$70 billion—— in Bitcoin holdings through IBIT. "Not sure I have words to describe how ridiculous this growth is," he remarked, underscoring institutional adoption's accelerating pace even amid recent volatility.
The investment products have collectively attracted 【$44.35 billion】 since January, with BlackRock's May 29 inflow bucking that day's $346.8 million industry outflow. As Chasse noted: "When others retreated, BlackRock doubled down—that's big brain institutional strategy." Analysts now scrutinize whether this outflow marks temporary profit-taking or signals broader trend reversal.