🔴 IBIT is trading 3.1% down today on record ETF outflows and institutional selling

IBIT is trading 3.1% down today as Bitcoin faces sustained institutional selling through spot Bitcoin ETFs.

• Recent data shows record June outflows exceeding $4 billion from U.S. spot Bitcoin ETFs, the highest on record for the month.
• IBIT has accounted for the majority of these redemptions, acting as the primary vehicle for institutional investors to reduce Bitcoin exposure.
• A broad de-risking environment and a weak ETF flow backdrop continue to weigh on both Bitcoin prices and pre-market levels.