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Home News Crypto

BlackRock’s Bitcoin ETF Faces 11% Drop Amid $1 Billion Outflows and Record Trading Volumes

by Team Lumida
March 5, 2025
in Crypto
Reading Time: 3 mins read
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Blackrock Q2 2024 Earnings Summary
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Key Takeaways:

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  • BlackRock’s spot Bitcoin ETF (IBIT) saw an 11% price decline last week, with trading volumes hitting their highest levels since November.
  • Over $1 billion was withdrawn from the ETF, reflecting investor panic amid bearish market sentiment.
  • Despite the downturn, IBIT remains the largest ETF globally, managing $39.6 billion in assets.
  • Technical indicators suggest further downside risks as prices remain below key support levels.

What Happened?

BlackRock’s spot Bitcoin ETF (IBIT) experienced a sharp 11% price drop last week, with trading volumes surging to their highest levels since mid-November. Over 331 million shares were traded as the ETF’s price fell below the critical support level of $50.69, eventually hitting $46.07, its lowest point since early November. Alongside the price decline, investors withdrew over $1 billion from the fund, contributing to a broader sell-off across U.S.-listed Bitcoin ETFs. Despite these challenges, IBIT remains the largest ETF globally, with $39.6 billion in assets under management.

Why It Matters?

The significant outflows and heightened trading volumes signal growing bearish sentiment in the cryptocurrency market. The price drop, coupled with increased trading activity, suggests that investors are reacting to weakening technical indicators and broader market uncertainty. For BlackRock, the performance of IBIT highlights the volatility inherent in Bitcoin-linked products, which could impact investor confidence in crypto ETFs. However, IBIT’s position as the largest ETF globally underscores its resilience and importance in the market, even during downturns.

What’s Next?

The technical outlook for IBIT remains bearish, with prices struggling to recover above the former support level of $50.69, now acting as resistance. Investors should monitor further price movements and trading volumes, as sustained bearish trends could lead to additional outflows. Broader market conditions, including Bitcoin’s price trajectory and regulatory developments, will also play a critical role in shaping the ETF’s future performance. For now, caution is warranted as the market digests these developments.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018