BlackRock Bitcoin ETF outflows hit $2B over nine sessions

JUST IN: Outflows from BlackRock's spot Bitcoin ETF have hit $2 billion over nine sessions, with US spot Bitcoin ETFs shedding nearly $300 million on Wednesday alone.

Two billion dollars has walked out of BlackRock's Bitcoin ETF in nine sessions.

That's IBIT, the biggest spot Bitcoin fund in the world, bleeding for nine straight trading days. Wednesday alone, investors pulled 270 million from it, which was roughly ninety percent of the 300 million that left all US spot Bitcoin ETFs that day. Grayscale lost another 39 million. Morgan Stanley's fund actually took in 9 million, which these days counts as a parade.

Bitcoin's sitting near 73,000, down eight and a half percent on the week. And the detail that bothers me most, when the Nasdaq bounced three percent on Monday, Bitcoin barely moved. That's not a dip, that's a shrug.

Bitfinex says outflow streaks like this can mark a floor, but only once you get three straight days of money coming back in. Right now the count of those days is zero.

This is Sara White, reporting for HIT.