BlackRock's IBIT sees $2.7B in net outflows over past 5 weeks

BlackRock's spot Bitcoin ETF, IBIT, has experienced net outflows of over $2.7 billion in the last five weeks, marking the largest withdrawal since its launch, CoinDesk reported. An additional outflow of $113 million on Dec. 4 extended this trend to a sixth consecutive week, setting a new record for the longest period of net outflows since the fund's debut in early 2024. The media outlet noted that the outflows coincide with BTC entering a bearish phase following a record liquidation event in October. The trend has been amplified by fund managers reducing their exposure to IBIT amid growing macroeconomic uncertainty.