According to recent data, BlackRock’s iShares Bitcoin (BTC) Trust (IBIT) has seen its second outflow since its launch in January.
According to new information from London-based investment management firm Farside Investors, BlackRock’s Bitcoin exchange-traded fund (ETF), which has over $10 trillion in assets under management, suffered its second-ever outflow earlier this week.
On August 29, IBIT saw $13.5 million in outflows. The last time this ETF saw outflows was on May 1, when $36.9 million was taken out of its vaults. However, May 1 was the only day that all major BTC ETFs recorded outflows.
According to the data, IBIT’s average daily inflow is $130.7 million, the highest among all BTC ETFs, and its best daily inflow on record was $849 million.
Additionally, Grasycale’s Bitcoin Trust (GBTC) appears to be suffering the most among all BTC ETFs, with an average of $123 million in daily outflows.
A Bitcoin ETF that would allow traders to gain exposure to the cryptocurrency king without actually buying any bitcoin won approval from the U.S. Securities and Exchange Commission (SEC) in January after years of rejection.
A few months later, an ETF based on Ethereum (ETH), the leading smart contract platform by trading volume, was also approved, and now the industry is pushing for the approval of an ETF based on Solana (SOL).
At the time of writing, Bitcoin is trading at $58,071, down 4.2% over the last 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
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