The iShares Bitcoin Trust ETF (Symbol: IBIT) experienced an outflow of approximately $253.9 million, marking a 0.3% decrease in shares outstanding from 1,416,520,000 to 1,412,080,000 week-over-week.
Currently, IBIT’s share price stands at $58.64, compared to its 52-week range of $41.86 to $71.82. This price is below the 200-day moving average, a notable indicator for technical analysis.
Exchange-traded funds (ETFs) like IBIT function similarly to stocks, with “units” being traded based on investor demand. As ETFs experience inflows or outflows, their underlying holdings may be significantly impacted.
