Live updates: BlackRock's IBIT sheds $300 million as bitcoin demand dwindles
CoinDesk·
60-second summary
BlackRock's IBIT sheds $300 million as bitcoin demand dwindles, with the fund alone losing a significant amount while smaller funds absorbed some of the outflow. This selloff occurs as the AI trade that crashed Korea a week ago now powers a record quarterly rally there, highlighting the complex and volatile nature of the cryptocurrency market. Market sentiment remains uncertain.
IBIT alone shed $300 million while smaller funds absorbed some of the outflow. The selloff lands as the same AI trade that crashed Korea a week ago now powers a record quarterly rally there.