BlackRock’s Bitcoin ETF Sees Record Outflow Amid Shift in Crypto Sentiment

BlackRock’s Bitcoin ETF experienced its largest single-day outflow, withdrawing $430 million on May 30th. This marked a reversal of the previous month’s inflows and signals a potential shift in investor sentiment regarding crypto assets. The sudden outflows were not isolated to BlackRock’s fund but extended across all US-listed spot Bitcoin ETFs, as prices fell below $105,000 due to increased market caution. Ethereum ETFs, on the other hand, saw an influx of investments with $70 million inflows into BlackRock’s iShares ETH Trust (ETHA), highlighting a potential change in investor behavior.