Blackrock’s IBIT lost $219 million to outflows yesterday as investor activity continues to wane in Bitcoin and Ethereum ETFs.
Blackrock’s IBIT recorded the heaviest outflow for the day leaving the Bitcoin ETFs with a deficit of $209 million.
Five out of the 11 Bitcoin ETFs recorded transactions with the rest stuck in null.
The trading day saw two outflows and 3 minimal inflows that were unable to offset the outflows.
Farside Investors UK revealed that Blackrock’s IBIT recorded the highest outflow for the day losing $219 million.
The second and remaining outflow was recorded by Bitwise BITB which lost $8.9 million.
Wisdomtree BTCW led the inflows for the day pulling in $10.2 million.
Vaneck HODLs and Ark 21 shares ARKB recorded the remaining inflow for the day pulling in $5.5 million and $2.2 million respectively.
The remaining six Ethereum Funds recorded no transaction for the day continuing the growing trend of poor investor activity in the Bitcoin ETFs.
Bitcoin Price Analysis
Bitcoin at the moment is exchanging hands for $96,866 surging by 0.2% in the past 24 hours. The crypto asset is up 1.5% and 3.9% on a 7-day and 14-day scale respectively.

Bitcoin dropped below $90,000 for the first time in about two months causing panic in the crypto market.
However, the crypto asset recovered a day later surging as high as $97,000 before cooling off to $96,866 at the moment.