Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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May 30, 2025

BlackRock’s iShares Bitcoin Trust (IBIT) saw a sharp reversal on May 30, recording $430.8 million in outflows and ending a 31-day inflow streak — the longest since the fund’s launch in January.

According to Farside data, this marks IBIT’s largest daily outflow to date, surpassing the previous record of $418.1 million on February 26.

The pullback comes after a strong month in which BlackRock accumulated nearly $6.2 billion in new Bitcoin holdings.

IBIT Holds $70 Billion in Bitcoin

ETF analyst Nate Geraci commented on the sudden shift, writing on X: “What a run over the past 30+ days, though.”

He noted that IBIT now holds roughly $70 billion in Bitcoin, calling the figure “ridiculous” given the fund’s relatively short history.

Across the broader U.S. spot Bitcoin ETF market, the story was similar. The group of 11 funds posted $616.1 million in net outflows on May 30, marking a second consecutive day of redemptions.

The previous day, May 29, saw $346.8 million in outflows, breaking a 10-day inflow streak.

Interestingly, BlackRock bucked the trend on May 29 by recording an inflow while other issuers saw redemptions.

“Every other issuer saw red. BlackRock kept buying… big brain energy right there,” Master Ventures founder Kyle Chasse commented.

Chasse suggested the recent sell-off wasn’t driven by retail panic but reflected a “quiet transfer of supply to the strongest hands.”

Despite the recent ETF activity, Bitcoin’s spot price remains under pressure. BTC is trading at $103,700, down 2.27% over the past 24 hours, per CoinMarketCap.

In the week ending May 23, spot Bitcoin ETFs had posted $2.75 billion in inflows.

Bitcoin Consolidates Below $110K

Bitcoin is consolidating near key levels after its recent all-time high, with traders closely watching for signals of the next major move, according to Hyblock Capital’s latest market report.

In a recent note shared with Cryptonews.com, Hyblock CEO Shubh Varma noted that Open Interest (OI) remains elevated in the 95th percentile, while combined order book liquidity is at 96%, reflecting a market primed for volatility.

“The longer this range holds, the greater the odds of a sharp breakout or stop hunt,” Varma said.

Retail stop-losses are reportedly concentrated at the edges of the current range, making them potential targets for liquidity-driven wicks.

On Binance, resistance is building between $109.5K–$110.5K, while key support lies at $105K–$105.5K. A break below could open the door to $98K.

A similar structure is forming on Bybit, with notable resistance at $110.5K–$111K and support zones mirroring Binance.

Varma highlighted a shift in sentiment, with retail longs at 48% and leverage flipping to short-heavy positioning.

This setup may fuel increased volatility if impatient traders rush into new positions.

“The passive order book is highly stacked, and leverage indicators are leaning bearish,” Varma said.

However, retail positioning near the 48% long mark has previously coincided with bullish reversals.

According to data from SoSoValue, IBIT has recorded 31 consecutive trading days without net outflows since April 14. The only exception was May 13, when flows remained flat.

Despite that pause, the ETF has received $9.31 billion in net inflows during the ongoing streak, which has propelled the fund’s assets under management to roughly $72 billion.

ETF Store President Nate Geraci pointed out that IBIT now ranks among the top five ETFs by year-to-date inflows across a universe of more than 4,200 US-listed funds.

Market observers point to declining volatility and improving market sentiment as key drivers behind IBIT’s appeal.

Bloomberg ETF strategist Eric Balchunas noted that the fund’s 90-day rolling volatility has reached its lowest level since inception. This trend, paired with Bitcoin’s steady price gains, is drawing in larger asset allocators.

Balchunas highlighted that IBIT’s flow dominance in recent weeks significantly outpaces other crypto-related ETFs, suggesting it has become the go-to choice for institutional players seeking Bitcoin exposure without excessive risk.

Investment manager Mike Shell of ASYMMETRY added that IBIT is beginning to behave more like a mature, institutional-grade asset.

According to him, the asset is not acting like a speculative crypto token but more like a digital store of value, like gold, than volatile tech stocks.

The post Bitcoin low volatility fuels BlackRock’s IBIT 31-day inflow run and $72B asset surge appeared first on CryptoSlate.