BlackRock's Bitcoin ETF bleeds $1.66B as outflows stretch to seven days

IBIT, the biggest US spot Bitcoin ETF by assets, posted $213 million in outflows Monday, according to Farside Investors data. That marked the seventh consecutive session of withdrawals for the BlackRock fund, a streak that has now drained $1.66 billion since Oct. 30.

The pain spread across the market. US spot Bitcoin ETFs lost another $201 million on the day, with only $22 million of inflows into the Morgan Stanley Bitcoin Trust ETF (MSBT) blunting the damage. Across the past six sessions the group has shed roughly $1.5 billion in net outflows, and year-to-date flows now sit at $1.1 billion in net withdrawals. By early November of both 2024 and 2025, those same funds had pulled in about $25 billion.

There was a sliver of relief in the pace. Monday's retreat came in lighter than Friday's $412 million, and the Crypto Fear & Greed Index ticked up to 32 from 29 a day earlier and 26 a week ago, though it stayed parked in "Fear" territory, per Alternative.me. US spot Ether ETFs told a worse story, bleeding roughly $185 million Monday — their heaviest daily withdrawals since Oct. 6. Bitcoin changed hands near $74,594, down 2.8% on the week but slightly green over 24 hours, according to CoinGecko.

Even Coinbase's newly effective US national trust bank charter, which went live Friday and lets the exchange custody digital assets for clients under federal oversight, failed to spark a rally. Kevin Boeve, a veteran trader and business development executive at tokenized real estate platform Palladium Network, called the split-screen market a red flag. "Stocks are up while crypto keeps falling, even with the big Coinbase news," Boeve told Cointelegraph, adding that such headlines once sent crypto flying but "now it barely moves the needle." He predicts a major stock market correction that could snowball into a wider sell-off.

Elsewhere in the sector, PNC Bank is testing a system that converts USDC payments into dollar deposits.