Share this article
BlackRock's Bitcoin ETF Sees Record Daily Outflow as the Basis Trade Starts to Unwind
BlackRock's IBIT saw a record outflow on Wednesday of over $418 million.
Feb 27, 2025, 9:18 a.m.
What to know:
BlackRock's iShares Bitcoin Trust (IBIT) saw record outflows of $418.1 million on Wednesday as bitcoin (BTC) dropped to around $82,000.
All U.S. spot-listed exchange-traded funds saw a total outflow of $754.6 million. According to Farside data, there have been $3.6 billion of outflows since Feb. 7.
Coinglass data shows that IBIT had $4.19 billion worth of volume traded during Wednesday's session, the sixth-highest ETF traded in the US.
The Chicago Mercantile Exchange (CME) is also seeing open interest drop to 155,270 BTC, the lowest level since November. This is a sign that the basis trade is starting to unwind.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
What to know:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
Top Stories
