BlackRock's IBIT fund saw record outflows amid fading US buyer demand for Bitcoin, while underlying demand for semiconductor chips remains high.

The entities involved

• Bitcoin →

  digital cash system and associated currency

  • Tensions between the US and Iran are pressuring market narratives, while President Trump's remarks are reportedly derailing nuclear talks.Mon 17:50
  • Bitmine holds 4.7% of total Ethereum coin supply and 205 Bitcoin, with Founders Fund among its institutional investors.Mon 16:28
• Micron Technology →

  American multinational corporation based in Boise, Idaho

  • A market sell-off hit major chip companies (AMD, Intel, Micron, Samsung, Nvidia) as the AI trade cooled and investors entered risk-off mode.Mon 17:34
  • Hyperscalers are competing for AI market share, driving high demand for semiconductors and boosting corporate profits.Mon 16:49

Related events

• BlackRock's IBIT fund led inflows in Bitcoin ETFs, while BlackRock's ETHA fund saw outflows for Ethereum ETFs, with Invesco remaining stable.Jun 7
• The crypto market is experiencing a rally, boosting related stocks as major firms like BlackRock remain involved in Bitcoin funds under SEC oversight.Sep 21
• BlackRock's iShares Bitcoin Trust led outflows while Citigroup forecasts a lower price range for Bitcoin.Sep 17
• BlackRock issues funds focused on Bitcoin, utilizing Coinbase as the shared custodian.Jul 10
• CoinShares, BlackRock, and Nvidia are involved in a market cycle where asset managers are utilizing tokenized Real-World Assets (RWA) and chipmakers are showing signs of resurgence.Aug 18