BlackRock’s iShares Bitcoin Trust ETF, better known as IBIT, saw roughly $192 million walk out the door on May 26. That makes it eight consecutive days of net outflows, a streak that has now drained more than $2 billion from US spot Bitcoin ETFs since May 14.
The numbers behind the streak
The $192 million outflow on May 26 was notable, but it wasn’t even the worst day in recent memory. That distinction belongs to May 18, when IBIT alone hemorrhaged $448 million in a single session. Across all US spot Bitcoin ETFs that same day, total outflows hit a record $648.64 million.
To put the broader trend in perspective: US spot Bitcoin ETFs collectively manage assets exceeding $100 billion. A $2 billion drawdown over roughly two weeks represents about 2% of total assets.
Adding fuel to the fire, a dark pool sell order worth approximately $130 million in IBIT shares surfaced around May 27. Analysts linked that block trade to a sharp intraday decline in Bitcoin’s price.
