Record $1.26B Outflow Hits BlackRock Bitcoin ETF (IBIT) as Bearish Options Cost Soars
CoinDesk
BlackRock's IBIT saw a record $1.26 billion outflow this month amid a 16% price drop and soaring costs for bearish put options.Summary
BlackRock's spot bitcoin ETF, IBIT, experienced a record net outflow of $1.26 billion so far this month, marking the largest redemption since its January 2024 launch. This outflow is part of a broader market trend, with 11 spot Bitcoin ETFs collectively seeing $2.59 billion withdrawn. Concurrently, IBIT's price has plummeted 16% to $52, a level last seen in April. This price collapse has driven traders to aggressively purchase put options for downside protection, causing the 250-day put-call skew to surge to a seven-month high of 3.1%, indicating that bearish hedges are the most expensive relative to calls since April.
(Source：CoinDesk)