BlackRock's iShares Bitcoin Trust (IBIT) experienced its largest single-day outflow of over $430 million on May 30, putting an end to its 31-day winning streak.
Investors pulled $430.8 million from BlackRock's spot Bitcoin ETF amidst escalating tensions between the U.S. and China over tariffs, marking the fund's biggest net outflow day since its launch.
The US-listed spot Bitcoin ETFs collectively saw net outflows of $616.1 million on May 30, influenced by global economic tensions that caused liquidations and price declines below key support levels.
Bitcoin's price volatility intensified following U.S. President Donald Trump's accusations against China for violating trade agreements and imposing new tariffs, sparking concerns of a potential trade war.