Hedge Funds Exit US Spot Bitcoin ETFs Two Weeks After $1.2B Launch Inflows
Hedge funds that drove the $1.2 billion of initial inflows into US spot Bitcoin ETFs have begun liquidating positions just two weeks after launch. BlackRock’s iShares Bitcoin Trust recorded its first meaningful redemptions as these funds exited to lock in short-term gains.
1. Hedge Fund Liquidations Trigger ETF Outflows
Hedge funds accounted for a majority of the $1.2 billion poured into US spot Bitcoin ETFs on launch day but have started offloading holdings within a fortnight. Their redemptions marked the first net outflows for major products, with BlackRock’s iShares Bitcoin Trust seeing a measurable drop in assets under management as these funds booked profits short term.
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