BlackRock Bitcoin ETF outflows hit $2B over nine sessions

What happened: BlackRock's iShares Bitcoin Trust (IBIT) recorded more than $2 billion in net outflows over nine consecutive trading sessions through Wednesday, with $269.7 million pulled on Wednesday alone. Key numbers: IBIT outflows were about 90% of Wednesday's $300 million in net withdrawals across US Why it matters: Bitfinex said slowing ETF outflows could be an early step toward a market floor but were not enough on their own to establish a recovery. Laser Digital pointed to weak spot demand, a persistently negative Coinbase premium and large liquidations of leveraged long positions.

BlackRock's iShares Bitcoin Trust (IBIT) recorded more than $2 billion in net outflows over nine consecutive trading sessions through Wednesday, with $269.7 million pulled on Wednesday alone.

Bitfinex said slowing ETF outflows could be an early step toward a market floor but were not enough on their own to establish a recovery. Laser Digital pointed to weak spot demand, a persistently negative Coinbase premium and large liquidations of leveraged long positions.