BlackRock's iShares Bitcoin Trust (IBIT) has recorded its largest single-day outflow since the fund launched, shedding an eye-popping $527.84 million on May 27.
According to market data, the IBIT fund lost 7,048 Bitcoin in a single trading session. That massive exit officially pushed BlackRock's total Bitcoin holdings back below the 800,000 mark, settling at 794,429 BTC. Despite the heavy redemptions, IBIT still recorded an impressive $1.49 billion in trading volume for the day, remaining one of the most actively traded products in the space.
The bleeding was not isolated to BlackRock. The entire U.S. spot Bitcoin ETF market experienced a brutal session on May 27, logging a cumulative net outflow of $733.43 million across all funds. This marked the eighth consecutive day of net negative flows for the ETF sector.
Other major funds also saw significant losses. Grayscale shed $104.76 million, Fidelity lost $60.30 million, Bitwise (BITB) saw outflows of $17.48 million (233 BTC), and Ark & 21Shares (ARKB) lost $17.39 million (232 BTC).
One notable exception was Morgan Stanley's MSBT ETF, which managed to record a modest inflow of $4.29 million (57 BTC) amid the broader market rout, making it the lone bright spot during the session.
The intense institutional selling pressure took a toll on cryptocurrency spot prices. The total digital asset market capitalization declined by roughly 2.0% over the past 24 hours, settling at $2.56 trillion. Bitcoin (BTC) dropped below the $74,000 mark, falling nearly 3.5% to trade at approximately $73,278. Ethereum (ETH) faced an even steeper decline, dropping 5% to trade below $2,000.
Even after the recent wave of outflows, total net assets across all U.S. spot Bitcoin ETF funds still stand at a staggering $96.45 billion, representing roughly 6.40% of the entire global Bitcoin supply.
Why it matters
IBIT's record single-day outflow of $527.84 million on May 27 coincided with Bitcoin's price falling nearly 3.5% to approximately $73,278, illustrating how large ETF redemption events can align with sharp moves in the underlying asset's spot price.
May 27 marked the eighth consecutive day of net negative flows across the entire U.S. spot Bitcoin ETF sector, a streak that underscores how broadly the selling pressure extended beyond any single fund.
Despite the record outflow, IBIT posted $1.49 billion in trading volume on the same day, one of the highest single-session figures for the product, indicating that significant market activity continued even during the redemption event.
