Data from Farside Investors shows that BlackRock's Bitcoin spot ETF, IBIT, experienced a net outflow of $414 million over two trading days. Foreign media outlets believe this change is more likely a short-term capital adjustment, possibly influenced by both macroeconomic expectations and shifts in product demand.
$414 million flowed out in two days
Data shows that IBIT experienced a net outflow of $202.5 million on July 23, followed by a further outflow of $212.2 million the next day, totaling $414 million over the two days. For the spot Bitcoin ETF market, this scale is sufficient to draw attention to the movement of institutional funds.
Given BlackRock's massive size in the global asset management industry, changes in the creation and redemption of its Bitcoin products are often amplified and interpreted by the market. Especially when Bitcoin lacks sustained upward momentum, ETF fund flows are frequently seen as a direct signal of demand strength.
Rising oil prices put pressure on prices
Foreign media reports suggest that the recent rise in oil prices may be one of the reasons for capital outflows. The reports attribute this to the escalating conflict between the US and Iran, and the impact of the closure of the Strait of Hormuz on global energy supplies, leading the market to re-inflate higher inflation risks.
The article argues that although US inflation briefly declined in June, it could rebound if energy prices remain high in July. If the market subsequently raises its interest rate expectations, highly volatile assets like Bitcoin will typically face greater pressure.
Weakening demand is also one explanation.
In addition to macroeconomic factors, the article also mentions that the outflow of IBIT may reflect a slowdown in customer demand. Since 2026, the overall performance of the crypto market has been weak, which may have led to a decline in investors' willingness to allocate to crypto assets.
However, the report also noted that BlackRock executives have not publicly changed their long-term stance. BlackRock co-founder and CEO Larry Fink previously reiterated his bullish view on Bitcoin, stating that the market could still see an upward trend over the next 12 months.
Additional information:The explanation for the outflow of funds in the article mainly comes from speculation by foreign media. The clear fact that has been disclosed is that IBIT experienced a net outflow of a total of $414 million over two trading days.
