BlackRock’s Bitcoin ETF Sees $430M Outflow, Snapping 31-Day Inflow Streak

BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest daily outflow to date on May 30, as $430.8 million exited the fund—breaking a 31-day inflow streak. This marks the end of a record run in which BlackRock added $6.2 billion in Bitcoin over the month.

The broader market mirrored this pullback, with all U.S. spot Bitcoin ETFs recording a combined $616.1 million in outflows, following $346.8 million the day before. These redemptions reflect growing investor caution amid elevated market volatility.

Despite the sell-off, IBIT still holds around $70 billion in Bitcoin, a massive figure for a fund launched just months ago. ETF analyst Nate Geraci called the growth “ridiculous,” noting the strength of IBIT’s early momentum.

Market watchers say this retreat may not be driven by retail panic. Kyle Chasse of Master Ventures believes it’s a “quiet transfer of supply to strong hands,” rather than a mass exit.

Bitcoin, meanwhile, is consolidating below $110,000, trading at around $103,700. Analysts at Hyblock Capital highlight rising volatility risks and tightly packed order books, suggesting a sharp breakout or liquidation move could be imminent. Key support sits at $105K, while resistance hovers near $110.5K.

Retail sentiment is mixed, with leveraged positions tilting bearish, yet previous setups like this have led to bullish reversals.