BlackRock clients requested redemptions of $33.4 million through the iShares Bitcoin Trust (IBIT), forcing the asset manager to liquidate Bitcoin holdings. The ETF, launched in January 2024 as one of the first US spot Bitcoin ETFs, saw much larger outflows throughout 2025: $127 million in November and $251 million in December, with single-day or weekly outflows exceeding $500 million at certain points. These redemptions reflect profit-taking by institutional investors and risk rebalancing in their diversified portfolios. The outflows are entirely client-driven and not firm-driven, with BlackRock’s leadership maintaining a long-term commitment to digital asset products.
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