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ZyCrypto 2025-05-31 18:46:42

BlackRock’s IBIT Snaps 31-Day Winning Streak With Largest Outflow Ever Amid Tariff Angst

BlackRock’s iShares Bitcoin Trust (IBIT) has ended its spot Bitcoin exchange-traded fund (ETF) inflow streak with its largest single-day outflow day since the fund went live in January 2024. IBIT witnessed over $430 million in outflows on May 30, a reversal after 31 consecutive days of positive accumulation. Investors Pull $430.8 Million From BlackRock’s Bitcoin ETF Investors pulled $430.8 million from BlackRock’s spot Bitcoin ETF on Friday amid flaring tensions between the U.S. and China over President Donald Trump’s tariffs. It was IBIT’s biggest single-day net outflow since its launch, according to data from U.K. asset manager Farside Investors. Before this, IBIT’s largest outflow day was on Feb. 26, bleeding $418.1 million in investor money. Nate Geraci, the president of investment advisor ETFStore, observed in a May 31 post on X, “What a run over the past 30+ days, though.” Geraci pointed out that BlackRock’s IBIT is now pushing approximately $70 billion in Bitcoin assets under management since its debut — continuing to assert its dominance in the market. “Not sure I have words to describe how ridiculous this is,” he posited. Overall, the dozen US-listed spot Bitcoin ETFs as a whole posted net outflows for the second consecutive day on May 30, totaling $616.1 million. The latest pullback came as global economic tensions rattled financial markets, triggering a cascade of liquidations and pulling prices below key support levels. Bitcoin was trading hands at around $104,140 at publication time, according to CoinMarketCap data. Just nine days ago, the world’s oldest and largest cryptocurrency was trading at all-time highs of nearly $112,000. The volatility comes after U.S. President Donald Trump accused China of violating a bilateral trade pact, forcing him to double tariffs on steel and aluminum to 50% to protect domestic industries. Trump claimed China broke a May agreement to ease trade tensions, adding that he might discuss the issue with President Xi Jinping. The President also announced new tariffs on Canada and Mexico, reigniting trade war fears and sending ripples across financial markets.

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