BlackRock, the world’s largest asset manager, has recorded the second-largest single-day outflow in the history of its Bitcoin (BTC) fund launched in 2024.
Specifically, the iShares Bitcoin Trust ETF (IBIT) posted $527.8 million in redemtpions on May 27, judging by the SoSoValue data available at press time. The figure was only surpassed by the $528.3 million pulled on January 30, with ‘only’ $500,000 needed to break the record.
U.S. spot Bitcoin ETFs collectively recorded $733.4 million in net outflows the same day. Alongside BlackRock, Grayscale’s GBTC fund saw the biggest losses, shedding $104.8 million, followed by Fidelity’s FBTC, which shed $60.30 million. Morgan Stanley’s MSBT fund was the only one with a positive net change, adding $4.3 million.
Overall, the figure represented the biggest collective daily outflow for institutional holders since January 29, 2026.
Bitcoin price drops as BlackRock posts record outflows
The flagship cryptocurrency reacted negatively to the institutional outflows, dropping nearly 3.4% and trading at $73,310 at the time of writing. The decline is all the more notable considering that President Donald Trump has promised to codify the Clarity Act.
Spot ETF redemptions coincided with a sharp derivatives market unwind, as more than $296 million in Bitcoin long positions had been liquidated within 24 hours – a 185% surge in forced closures.
One day earlier, on May 27, BTC had already dropped nearly 2%, its market cap slipping by nearly $30 billion, fueled by another notable sale from an IBIT investor via a dark pool.
Spot Bitcoin ETFs are now on their eighth straight day of net losses. Their overall net balance sits around $96.45 billion, with BlackRock alone commanding about $59.48 billion, or 3.94% of the total BTC supply.
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