BlackRock’s iShares Bitcoin Trust (IBIT) recorded its second-largest single-day net outflow on Wednesday.
Investors withdrew approximately $527.8 million from the fund. Combined outflows across all 11 U.S. spot Bitcoin ETFs exceeded $733 million. This movement followed a $1.29 billion dark pool block sale of IBIT shares earlier this week.
Institutional investors are trimming Bitcoin exposure due to escalating Middle East tensions and general market uncertainty. The selling pressure pushed Bitcoin prices below $73,000. This mark represents the lowest price point for the cryptocurrency in over six weeks.