BlackRock IBIT sees net outflows for two consecutive weeks for the first time

Odaily Odaily News: US spot Bitcoin ETFs have generally rebounded over the past week as Bitcoin prices have rebounded. According to SoSoValue data, the 12 funds recorded weekly net inflows of $245 million, the third smallest total so far, but an improvement over last week's net outflows of $388 million. However, BlackRock IBIT, the largest such fund by net asset value, saw weekly net outflows for the second consecutive week, despite both trading weeks being only four days due to holidays. This is the first time that the largest spot Bitcoin ETF on the market has experienced such a streak of declines; its $54.3 billion net asset value (NAV) still far exceeds its largest competitors, Fidelity FBTC and Grayscale GBTC, whose NAVs are both around $20 billion.