Bitcoin ETF · Bitcoin · Coinbase · Ark Invest · Crypto Briefing
BlackRock ETF clients sell $19 million worth of Bitcoin as spot funds see broader redemptions
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◌ Single Source
The $19.23 million outflow from IBIT led single-fund redemptions, though it barely dents the fund's $60 billion in assets under management.
Key facts
- To put the number in perspective: $19.23 million represents roughly 0.03% of IBIT’s total assets under management, which currently exceed $60.6 billion
- The $19.23 million outflow from IBIT led single-fund redemptions, though it barely dents the fund's $60 billion in assets under management
- BlackRock’s iShares Bitcoin Trust (IBIT) saw clients pull $19.23 million on September 11, making it the largest single-fund redemption of the day across all US spot Bitcoin ETFs
- Since launching in January 2024, IBIT has accumulated roughly $64 billion in cumulative net inflows
Summary
BlackRock’s iShares Bitcoin Trust (IBIT) saw clients pull $19.23 million on September 11, making it the largest single-fund redemption of the day across all US spot Bitcoin ETFs. To put the number in perspective: $19.23 million represents roughly 0.03% of IBIT’s total assets under management, which currently exceed $60.6 billion. An important distinction here is that BlackRock isn’t choosing to dump Bitcoin. The redemptions flow through Coinbase Prime, which serves as IBIT’s custodian.