BlackRock Bitcoin ETF Posts 10-Day $2.24B Outflow Streak

BlackRock’s spot Bitcoin ETF has now recorded ten straight trading days of net outflows, totaling 35,980 BTC and roughly $2.24 billion in value, according to on-chain monitoring posted Friday.

The streak is the longest redemption run the iShares Bitcoin Trust has logged since its January 2024 launch. The 35,980 BTC of outflows tells one side of the picture. Bitcoin Foundation data shows the seller-buyer split underneath: hedge funds cut 31,400 BTC in Q1 2026 while banks added 7,800 BTC and Abu Dhabi’s Mubadala acquired 1,100 BTC. A Morgan Stanley product launch that quarter reset the fee floor at 0.14%.

Ten Straight Sessions of Redemptions

On July 3, the on-chain post flagging 35,980 BTC of outflows appeared on Lookonchain’s wallet tracker, which recorded that the address tied to BlackRock’s Bitcoin ETF had hit its tenth consecutive trading day of net outflows, summing to 35,980 BTC, or about $2.24 billion at prevailing prices. The longest-since-launch note on the IBIT streak characterized the run as the longest outflow period for the iShares Bitcoin Trust since its inception, citing the same data.

The same-day $2.24 billion total from independent trackers showed up the same evening from ChainCatcher. The parallel 35,980-BTC total carried minutes later from TechFlow and Phemex News followed in quick succession. Bitcoin traded at $62,456.01 on ChainCatcher’s price ticker at the moment the article went live, up 1.43% on the day. The market did not wait long to absorb the news.

The mechanics are familiar. ETF redemptions convert into sell pressure on the underlying bitcoin, which authorized participants typically offload through Coinbase Prime, and the 10-day run amounts to a steady drumbeat of daily withdrawals rather than one dramatic redemption.

Where the Streak Sits in 2026

BlackRock’s current streak is the latest move in a slide that began months ago. Investing.com documented a separate $2.43 billion outflow from the iShares Bitcoin Trust across nine sessions in May 2026. That run was capped by a $1.26 billion dark-pool block sale on May 26, the largest single-day redemption in the fund’s history.

Through the first half of June, the entire U.S. spot Bitcoin ETF complex bled into a 13-day, $4.33 billion streak totaling roughly 59,400 BTC, per a Bitcoin Foundation tally, the worst sustained run since the products launched. The ETF complex losing $2.97B across 10 sessions in May had set the floor under that run, with the broader complex bleeding for weeks. By late June, the 2026 net inflow total sitting at $536 million showed how much of the year’s inflows had been wiped out. June 5 ended the 13-day streak with a $3.05 million net inflow, but the relief lasted only briefly.

Rotation, Not Retreat

The instinct is to read the 10-day run as institutional abandonment. The numbers underneath point elsewhere.

Bitcoin Foundation Q1 2026 data lays out the seller-buyer split. Hedge funds led the selling, cutting positions by 31,400 BTC, or 39%, while brokerages reduced theirs by 18,800 BTC, down 53%. Jane Street trimmed 10,800 BTC of its own, and Morgan Stanley closed its entire 8,300 BTC position, an exit analysts linked to the launch of the bank’s own MSBT fund. On the other side of the ledger, bank holdings rose by 7,800 BTC to 15,200 BTC, with JPMorgan adding 3,000 BTC, Wells Fargo growing by 4,000 BTC, and Citigroup disclosing 97 BTC for the first time. Abu Dhabi’s Mubadala acquired 1,100 BTC during the same window.

The data is consistent with historical market behavior during drawdowns. Short-term leveraged strategies are unwinding, and supply is redistributing from momentum players to long-term holders: advisors, banks, and sovereign funds.

CoinShares analyst Matt Kimmell framed the redistribution that way. The pattern he describes does not show up in any single headline flow number.

Investment advisors, the largest holder group at 150,300 BTC, cut their positions by just 5.9%, the smallest reduction of any cohort. The IBIT 10-day outflow is real, and so is the fact that the sellers and the buyers are not the same set of names.

Macro Is Doing the Heavy Lifting

ETF flows do not move in a vacuum. Investing.com framed the May 9-session IBIT run inside a backdrop of elevated U.S. Treasury yields. The same outlet described a Federal Reserve stance that market participants read as constraining for risk assets, conditions that pushed Bitcoin below its prior consolidation range.

Bitcoin below $60,000 amid ETF outflows marked the early-June pressure point, with the asset’s drawdown from its October 2025 all-time high of $126,000 reaching nearly 50% at one point in February 2026, per the Bitcoin Foundation data. The asset recovered toward $68,000 by early June and $61,900 by the time the 13-day outflow streak ended.

By July 3, the asset was trading near $62,456.01 with a 1.43% daily gain. The flows and the price are telling the same story, but the flows are arriving first. CryptoBriefing noted that prediction markets were showing varied confidence for Bitcoin clearing key price thresholds by July 7, with the contracts the outlet tracked priced across a wide spread that matched the indecision in the chart.

Where the New Money Is Going

The competitive picture has shifted underneath BlackRock. On April 8, 2026, Morgan Stanley listed its proprietary spot Bitcoin ETF, ticker MSBT, on NYSE Arca, and CoinDesk reported the fund drew roughly $34 million on its first trading day, with more than 1.6 million shares changing hands.

By Bitbo’s count, MSBT has since drawn roughly $264 million in net inflows, ahead of the spot bitcoin products from Invesco and WisdomTree, both of which launched in January 2024. Bitbo also reported that Trump-backed Truth Social’s sponsor, Yorkville America, withdrew its planned crypto ETF applications this week. Bloomberg ETF analyst James Seyffart attributed the exit in part to the fee compression that MSBT’s 0.14% sponsor fee set off. MSBT now sits in the same category as IBIT at the lowest fee in the field.

• MSBT (Morgan Stanley): launched April 8, 2026, 0.14% fee, ~$264 million net inflows to date.
• IBIT (BlackRock): longest outflow streak on record for the fund; 2026 net inflows of $2.7 billion vs $25 billion in 2025.
• FBTC (Fidelity): $36.3 million in outflows on a mid-June Friday per Bitbo.
• ARKB and GBTC: both contributed to the cross-fund de-risking Bitcoin Foundation and Investing.com documented.

Frequently Asked Questions

What is the BlackRock Bitcoin ETF outflow streak?

The iShares Bitcoin Trust, ticker IBIT, recorded ten consecutive trading days of net outflows ending July 3, 2026, summing to 35,980 BTC. In dollar terms, the run is worth about $2.24 billion at the prices Lookonchain used. CryptoBriefing called it the longest such streak since the fund’s January 2024 launch.

Where did the figure come from?

Lookonchain, an on-chain analytics account, posted the 35,980-BTC total on July 3. ChainCatcher, TechFlow, and Phemex News republished the same number within hours.

Is BlackRock losing its position in bitcoin ETFs?

Not in relative terms. Bitbo reported that most of 2026’s remaining U.S. spot Bitcoin ETF inflows sit inside IBIT, at roughly $2.7 billion year-to-date. Every other major fund has already gone net negative for the year.

What is driving the outflows?

CoinShares analyst Matt Kimmell said the pattern matches historical drawdowns, with short-term leveraged strategies unwinding while advisors, banks, and sovereign funds hold or add. Investing.com cited elevated U.S. Treasury yields. The same outlet described a Federal Reserve stance read as restrictive. Both explanations point to risk-off behavior at the leveraged end of the holder base, not at the long-term end.

What changes if the streak breaks?

On June 5, the broader complex posted a $3.05 million net inflow that ended a 13-day, $4.33 billion streak, per the Bitcoin Foundation. A first positive session at IBIT would not reverse the year-to-date picture. It would reset the 2026 outflow clock at the largest fund.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets carry significant risk, including the potential for total loss of capital. Figures cited are accurate as of publication. Consult a qualified financial professional before making any investment decision.