BlackRock’s iShares Bitcoin Trust fund has experienced its longest streak of weekly outflows since its January 2024 debut. Despite stable Bitcoin prices, institutional demand for Bitcoin remains weak. According to Bloomberg data, more than $2.7 billion has been withdrawn from this exchange-traded fund (ETF) over five weeks ending November 28. An additional $113 million was redeemed on Thursday, indicating a sixth consecutive week of negative capital flow. The Bitcoin Trust ETF offered by BlackRock provides investors access to Bitcoin pricing without direct ownership, offering a simplified and regulated investment route, especially for institutions wary of cryptocurrency complexities. However, cautious investor sentiment and global financial market uncertainty have driven recent withdrawals despite Bitcoin’s price stability. This trend suggests institutional investors may be avoiding large Bitcoin allocations or rebalancing their portfolios. Future shifts in market volatility and global financial policies could further influence this pattern. While posing risks, the current environment may also present opportunities should sudden market changes or positive developments occur.
Source: binance
