BlackRock Bitcoin ETF Posts Record $532 Million Daily Loss as BTC Price Slump Worsens

BlackRock's iShares Bitcoin Trust (IBIT) experienced a record loss of $532 million in a single day, extending its streak of outflows to five consecutive days. Over this period, the ETF has lost more than $1.4 billion, marking the largest total for any consecutive day stretch in its history. Despite this, IBIT has recorded significant net inflows of over $25 billion for the year. These losses coincide with Bitcoin's decline to a seven-month low, driven by macroeconomic factors such as the longest government shutdown in U.S. history, inflation concerns, and straining labor data indicating a potential recession. Other Bitcoin ETFs also faced losses, with Fidelity and Grayscale funds shedding millions in investments. Despite the current downturn, a new Solana ETF has seen consistent inflows, showcasing a sharp contrast in market behavior.

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