BlackRock’s iShares Bitcoin Trust (IBIT) suffered a record-breaking $527.84 million outflow on May 27. The figure is the largest single-day withdrawal in the fund’s history.
A record day for redemptions
The outflow of $527.84 million from IBIT on May 27 eclipses all previous single-day withdrawals from the spot Bitcoin ETF. Prior to this, no daily redemption had reached that level.
No explanation made public
No reason for the sudden redemption was disclosed. IBIT, managed by BlackRock, is one of the largest spot Bitcoin ETFs in the U.S., and the size of the outflow stands out against its typical daily flows.
The record outflow on May 27 is the largest in IBIT’s trading history.
