BlackRock’s iShares Bitcoin Trust (IBIT) recorded a net outflow of $122.06 million during a recent trading session, accounting for nearly half of the total market-wide outflow of $265.37 million. Investors who entered the fund near the peak are seeing their one-year return drop to -45.62% and are liquidating their positions en masse. Despite this hemorrhage, BlackRock still holds 737,118.26 BTC, representing 3.67% of the global Bitcoin supply. ETF selling pressure is pushing Bitcoin toward a bottom formation phase around $52,000. In response, BlackRock is launching tokenized products backed by U.S. Treasury securities via its Ethereum platform to capture liquidity from investors fleeing volatility.
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