Bitcoin ETFs lose record $6.4B in 30 days as BTC drops
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- Bitcoin ETFs shed a record $6.4 billion over 30 days, per Galaxy Research, as a "crypto winter chill" set in across the market.
- Bitcoin was trading at $64,167 at time of writing, down 17.4% over the past month, pressured by rising US inflation and the ongoing US-Iran war.
- BlackRock's Jacobs pushed back on reading too much into daily outflows, noting investors may simply be rotating from IBIT into its newly launched iShares Bitcoin Premium Income ETF (BITA), which debuted Wednesday.
- BlackRock launched BITA this week as a complement to its spot Bitcoin ETF IBIT, expanding its crypto product lineup even as headline outflows hit records.
- Jacobs said Bitcoin's volatility hasn't shifted BlackRock's view of it as a "global, decentralized, nonsovereign monetary alternative," comparing it to the 450-plus ETFs in iShares' family where daily flows are routine.
- Galaxy Research also flagged near-record Bitcoin activity driven by a surge in microtransactions, suggesting underlying network usage is diverging from the price action.
Why it matters: A record $6.4 billion in 30-day ETF outflows marks the sharpest institutional retreat from Bitcoin since the products launched, yet BlackRock — the dominant issuer — is using the moment to launch a new income-generating Bitcoin ETF rather than retreat, signaling the biggest player sees demand for Bitcoin exposure shifting in form, not disappearing.
