• Spot Bitcoin ETFs, particularly BlackRock's iShares Bitcoin Trust (IBIT), saw nearly $900 million in outflows, with IBIT posting its largest daily net outflow since its January 2024 launch at $523 million.
  • Bitcoin dropped 3.9% to $83,829, hitting a seven-month low, while Ethereum fell 4.5% to $2,749, reaching a four-and-a-half-month low.
  • The selloff is being driven by Federal Reserve policy uncertainty, mixed U.S. jobs data, and thinning liquidity in global financial markets.

Market Rout Accelerates

The cryptocurrency selloff intensified Thursday as institutional capital fled spot Bitcoin exchange-traded funds, with BlackRock's iShares Bitcoin Trust (IBIT) leading the exodus. The fund saw $523 million exit in a single day, its largest daily net outflow since launching in January 2024, according to data reviewed by market participants.

"The outflows from IBIT are particularly significant given its dominant market position," said a trader at a major digital asset firm who requested anonymity to discuss client flows. "When the bellwether ETF sees this kind of movement, it creates a cascading effect across the entire crypto complex."

Price Pressure Mounts

Bitcoin fell 3.9% to $83,829 during the session, touching its lowest level in seven months, while Ethereum dropped 4.5% to $2,749, reaching a four-and-a-half-month low. The iShares Ethereum ETF also continued to weaken, suggesting the negative sentiment had spread beyond Bitcoin-specific products.

The sharp reversal comes after strong institutional inflows and price optimism in early 2025 had propelled Bitcoin toward the $100,000 mark. Now, with nearly $900 million exiting spot Bitcoin ETFs overall, the market structure that supported those gains appears to be unwinding.

Macro Headwinds Persist

Market participants pointed to several factors driving the risk-off move in digital assets. Uncertainty around Federal Reserve policy has been compounded by mixed U.S. jobs data and thinning liquidity in global financial markets. These traditional finance concerns are now directly impacting crypto through the ETF channel that was supposed to provide stability.

While no direct new regulations have been cited for this specific move, underlying fears about future Fed tightening and global policy shifts are clearly impacting risk assets. The outflows from crypto ETFs contrast with stable flows in precious metal ETFs, suggesting a crypto-specific confidence issue rather than a broad-based risk aversion.

Attempts to reach BlackRock for comment on the IBIT outflows were not immediately successful. A spokesperson for the iShares Ethereum ETF declined to comment on daily flow movements.

Correction: An earlier version of this article misstated the total outflows from spot Bitcoin ETFs. The correct figure is nearly $900 million.