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BlackRock, the world’s largest asset manager, has suffered its first negative flow from its iShares Bitcoin Trust ETF in weeks. After approximately two weeks of staying green on the crypto market, the multinational investment entity registered an outflow.

BlackRock records setback in strong run

According to available data from Farside Investors, BlackRock (IBIT) recorded a net outflow of $9.1 million on Sept. 9. Besides Grayscale (GBTC), whose outflow was $22.8 million, no other asset manager recorded negative outflows.

Although BlackRock had managed to avoid outflows since Aug. 29, this recent figure has ended its twelve-day streak. However, the current outflow of $9.1 million is more than $4 million less than the last negative flow by BlackRock.

Despite BlackRock and Grayscale's outflows, others like Franklin, Valkyrie, VanEck, WisdomTree and Grayscale Bitcoin Mini Trust did not register any flows. The other asset managers' positive performance helped register a cumulative inflow of $28.6 million.

Notably, Fidelity (FBTC) led the pack with a $28.6 million inflow, followed by Bitwise (BITB) with $22 million. Others are ARK 21Shares (ARKB) and Invesco (BTCO), with $6.8 million and $3.1 million, respectively.

Bitcoin’s price remains under pressure

Regardless of IBIT’s recent outflow, it remains the leading asset manager in flows. On average, BlackRock has posted an average of $126 million, over $69 million more than its closest rival, Fidelity.

Fidelity’s average inflow is $56.9 million, and it has a rich history of outranking BlackRock. The cumulative average inflow of the others amounts to $39.7 million, except Grayscale (GBTC), which has an average outflow of $120.7 million.

Despite the net inflow in majority of the asset managers, the price of Bitcoin on the crypto market continues to trade below $60,000. The leading digital asset has witnessed volatility and price fluctuations and has only breached the $60,000 resistance level for a very short spell within the past month, only to crash again.

At the time of writing, CoinMarketCap data shows Bitcoin exchanging hands at $57,263.11, which represents a 3.65% increase in the past 24 hours.