BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) shed $527.84 million on Wednesday, its second-largest single-day outflow, as US airstrikes near the Strait of Hormuz reignited Middle East tensions.

All 11 US Spot Bitcoin ETFs Lost $733M In A Single Day

The complex has now posted outflows for several consecutive sessions, pulling more than $2 billion from the market over two weeks as Bitcoin slid from above $82,000 on May 6 to under $73,000.

Wednesday’s IBIT outflow came within $500,000 of the fund’s all-time single-day record of $528.3 million set on January 30. 

IBIT holds roughly $59 billion in assets and accounts for close to 4% of Bitcoin’s total supply, making redemptions from…

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