BlackRock’s iShares Bitcoin Trust posted a net outflow of more than $527 million on May 27. That was its second-largest daily withdrawal on record, and the biggest outflow of any U.S. spot Bitcoin ETF that day.
On-chain watchers also flagged transfers of more than 2,500 Bitcoin, worth about $192 million, between Coinbase Prime-linked wallets. That matters because Coinbase Prime handles trading and custody for major ETF issuers.
But those wallet moves do not prove BlackRock was selling Bitcoin. Transfers between Coinbase Prime wallets can be part of normal redemption processing or internal custody operations.
The outflow is confirmed, the reason behind those wallet transfers is not. Investors are watching closely because if big redemptions continue, markets will want to know whether they lead to real spot selling pressure.