BlackRock Bitcoin ETF Outflows Seen as Profit Taking, Says Pluang
BlackRock’s iShares Bitcoin Trust shed $165.4 million in the week ending October 16, 2026, driving the bulk of $228.4 million in total net outflows from U.S. spot Bitcoin ETFs during a period of price cooling after a multi-week rally, 247wallst.com reported.
Outflows Concentrated in Major Funds
The redemptions hit several major products across the market. The Fidelity Wise Origin Bitcoin Fund lost $60.2 million, the Grayscale Bitcoin Mini Trust fell $7.6 million, and the Invesco Galaxy Bitcoin ETF dropped $4.1 million, according to 247wallst.com. Pluang noted that BlackRock’s iShares Bitcoin Trust accounted for 72 percent of the week’s total withdrawals, making it the largest single source of redemptions for the period.
Not all products experienced withdrawals. The Morgan Stanley Bitcoin Trust drew $6.7 million in new investments, while the Bitwise Bitcoin ETF added $2.2 million. The selling pressure culminated in a final session loss of $82.4 million on October 16 across U.S. spot Bitcoin funds, with IBIT responsible for $71.8 million of that daily total.
Bitcoin ETFs Hold $104.3 Billion Despite Weekly Losses
Despite the weekly losses, total net assets across U.S. spot Bitcoin ETFs stood at $104.3 billion on October 16, according to SoSoValue data cited by 247wallst.com. The week’s total withdrawals amounted to roughly one-fifth of one percent of that asset base. Pluang framed the outflows as small relative to the broader market, suggesting investors were taking profits after a substantial price run rather than staging a permanent exit.
Bitcoin traded near $81,141 as of October 17, marking a 1.7 percent decline over the week but retaining a 6.8 percent gain over the preceding month. On a broader timeline, the cryptocurrency climbed 25.4 percent from an August 18 level of about $64,681. Pluang noted that IBIT shares represent beneficial interests rather than direct Bitcoin ownership, with the Delaware statutory trust holding the underlying asset and Coinbase acting as custodian for the private keys.
BlackRock Digital Assets Platform Holds $79.6 Billion
BlackRock’s broader digital-assets platform held $79.6 billion in assets during the third quarter, placing the recent ETF redemptions into the scale of a larger franchise that recorded $135 billion in net inflows overall for the quarter. Market data from October 18 showed IBIT shares trading at $46.15, down 0.94 percent, while parent company BlackRock Inc. shares rose 1.21 percent to $1,134.38, yielding a market capitalization of $175.68 billion, according to Pluang.