BlackRock’s flagship Bitcoin ETF is experiencing its longest stretch of outflows since launch, as institutional investors pull back ahead of year-end. Over the past five weeks, the iShares Bitcoin Trust (IBIT) has seen more than $2.7 billion withdrawn, marking five consecutive weeks of net outflows through Nov. 28, according to Bloomberg data.
Redemptions continued on Thursday, with another $113 million leaving the fund, setting it on track for a sixth straight week in the red—its longest streak since early 2024.
The outflows reflect a broader market adjustment following October’s liquidation, which erased over a trillion dollars in crypto value and pushed Bitcoin into a confirmed bear phase. IBIT, once a key channel for institutional inflows, has reversed as managers reduce risk amid macro uncertainty and bonus-season positioning.
Bitcoin has rebounded to the low $92,000s, but flows remain negative. Analysts say this trend is a stronger indicator of market direction than short-term price movements. Glassnode notes the current redemption cycle signals a pause in fresh capital allocation rather than a structural sell-off.
Bitcoin remains roughly 27% below its early-October record high, and IBIT’s flows are increasingly viewed as a gauge of U.S. institutional demand.
