BlackRock Inc.’s iShares Bitcoin Trust recorded its longest streak of weekly withdrawals since debuting in January 2024, in a sign that institutional appetite for the world’s largest cryptocurrency remains subdued even as prices stabilise.

Investors yanked more than $2.7 billion from the exchange-traded fund over the five weeks to Nov. 28, according to data compiled by Bloomberg. With an additional $113 million of redemptions on Thursday, the ETF is now on pace for a sixth straight week of net outflows.

The IBIT fund oversees more than $71 billion in assets and has served as the flagship vehicle for traditional investors seeking exposure to Bitcoin. The sustained period of outflows aligns with Bitcoin’s slide into a bear market following a severe liquidation event in early October, which

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