May 2, 2024

BlackRock's spot bitcoin ETF product IBIT recorded its first-ever day of outflows on Wednesday, with $36.9 million exiting the fund.

Video transcript

The chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Investors dumped us based spot Bitcoin ETF S at the fastest pace ever on Wednesday. Even as fed chairman Jerome Powell ruled out the prospect of a rate hike. Blackrock spot Bitcoin ETF product IBI recorded its first ever day of outflows with $36.9 million exiting the fund. And according to Datasource Farside investors and coin glass, the 11 spot Bitcoin products in the US saw a cumulative net outflow of $563.7 million. The largest since the funds began trading in January. Bitcoin was trading at around $58,400 at 10 a.m. Eastern time. That's it for today's chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.

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