Live updates: BlackRock's IBIT sheds $300 million as bitcoin demand dwindles

live Updated just now Live updates: BlackRock's IBIT sheds $300 million as bitcoin demand dwindles IBIT alone shed $300 million while smaller funds absorbed some of the outflow. The selloff lands as the same AI trade that crashed Korea a week ago now powers a record quarterly rally there. By Shaurya Malwa Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email just now · 7:01 AM Shaurya Malwa Share Share this post Copy link X icon X (Twitter) LinkedIn Facebook Email BlackRock's IBIT sheds $300 million as bitcoin demand dwindles U.S. spot bitcoin ETFs lost a net $231 million on Monday, with BlackRock's IBIT accounting for $300 million of outflows that other funds partly offset, including $50 million into ARKB and $35 million into GBTC, per SoSoValue data. The outflow lands as risk appetite elsewhere is surging. Wall Street's technology rally spread into Asia on Tuesday, with the MSCI Asia Pacific index up 1% on the year's final trading day after a semiconductor rebound helped the S&P 500 snap a five-session losing streak. The Asian benchmark is on track for its biggest quarterly gain in almost 17 years. South Korea's Kospi, which crashed 10% in a single session earlier this month, climbed 2.1% to extend its lead as the world's best-performing major benchmark this year. Samsung is up more than 100% this quarter, and SK Hynix has gained almost 240% since April. The yen slid to its weakest level against the dollar since 1986, a sign investors are funding the AI trade by borrowing in yen. Bitcoin ETFs are not participating in that capital rotation, however. The same AI infrastructure spending fueling record quarters in Seoul and Tokyo is the trade competing for the dollars that might otherwise flow into bitcoin, a dynamic that has run through the month's coverage of SpaceX, Anthropic and the chip sector. Latest Crypto News 1 Dubai set for crypto firm influx as MiCA deadline pushes companies to reassess Europe 31 minutes ago 2 XRP holds $1 support as network activity rises and leverage clears out 1 hour ago 3 Ether, solana and dogecoin slide as Strategy's bitcoin sales plan pressures market 2 hours ago 4 Tether trades at 7% to 10% premium in India. Exchanges say its just supply and demand 2 hours ago 5 Bitcoin under pressure below $60,000 as Japanese yen hits 40-year low against the U.S. dollar 2 hours ago 6 Securitize heads to NYSE debut after investors approve SPAC merger 7 hours ago 7 Bitcoin lending is entering a new institutional era, according to Silicon Valley Bank 13 hours ago 8 JPMorgan urges strong safeguards as congress weighs crypto market structure rules 13 hours ago 9 Private keys, not smart contracts, caused 40% of crypto's $16 billion hack losses. Here's whats being done. 15 hours ago 10 White House to speak with law enforcement groups to push Crypto's Clarity Act 15 hours ago Latest Research The Evolution of the Crypto CEX Landscape: A Case Study on Binance The Evolution of the Crypto CEX Landscape: A Case Study on Binance Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. By CoinDesk Research 20 hours ago Commissioned by Binance Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. Why it matters : Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services. View Full Report More From Tech Private keys, not smart contracts, caused 40% of crypto's $16 billion hack losses. Here's whats being done. Ripple wants institutions to borrow against tokenized assets on XRPL Vitalik Buterin says crypto’s most powerful idea isn't nearly ready for use