BlackRock's IBIT Sheds $291M in a Day, as Bitcoin ETFs Pull Back

BlackRock's Bitcoin ETF, IBIT, experienced its largest outflow since August, with $290 million withdrawn in a single day as institutional sentiment shifts amid macroeconomic uncertainties. This week, U.S. Bitcoin ETFs reported a significant overall net outflow of $388.43 million, with BlackRock’s IBIT contributing the most. Analysts attribute this downturn to external factors, including market reactions to geopolitical events and Federal Reserve comments that have created new economic doubts. Even with this week's outflows, October's total ETF inflows reached $3.61 billion, surpassing the previous month, indicating that while short-term volatility exists, the long-term outlook for institutional adoption of Bitcoin remains positive. As uncertainty persists, market analysis shows a cautious but slightly improving sentiment, suggesting that if macro conditions stabilize, positive inflows could continue into the future.

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