BlackRock's IBIT shed 22.7 million shares in four sessions as bitcoin fell to $68,393
iShares data shows IBIT's share count down 1.6% since November 6, roughly $919 million at Thursday's NAV. Bitcoin lost 7% in 24 hours.
U.S. bitcoin ETFs lost $1.49 billion in five straight days as bitcoin fell 9%
Spot bitcoin funds have now seen money leave on eight of the last nine trading days, $2.57 billion in all, CoinMarketCap's tally shows. Ether funds lost $477 million in the same five days.
BlackRock's IBIT shrank $105 million on Friday, yet its share count is flat since September
IBIT, BlackRock's spot bitcoin fund, cut 2.44 million shares on November 6, about 1,380 BTC. Yet it has slightly more shares than on September 30, so nearly all of its $6.4 billion drop in assets since then came from bitcoin's price.
What is a bitcoin ETF? How spot funds hold coins and what daily flows mean
A spot bitcoin ETF is a fund that holds real bitcoin and trades on a stock exchange like a share. Big brokers create and redeem its shares in blocks, and the daily flow numbers measure exactly those creations and redemptions.
Bitcoin ETFs lost $636 million in one day as chip stocks sank 6.7% and oil jumped
A tech sell-off and a 7% oil spike on October 22 erased most of a $1.07 billion, three-day inflow streak into US spot bitcoin funds. It was their worst day since late June, and it tipped October into the red.
Most Fed officials saw another hike by year-end. Bitcoin ETFs lost $485 million that day
The minutes of the September Fed meeting, released on October 7, showed officials worried that five years of high inflation could stick. Spot bitcoin ETFs had their worst session of the week the same day.