I looked through the latest data on BlackRock's $BTC Spot ETF ($IBIT) compiled by Bloomberg and found something interesting—the world's largest Bitcoin ETF has seen outflows for six consecutive weeks.

The numbers do look pretty alarming, setting a record for the largest net outflow in history. Quite a few people in the market are starting to be bearish on BTC, thinking institutions are pulling out.

But if you do the math, you'll see: over these six weeks, the total outflow is only about 30,000 BTC.

And what's BlackRock's current total BTC holding? 776,000 BTC.

The outflow accounts for less than 4% of total holdings. Is this proportion enough to say institutions are making a massive exit? Probably not yet. The data speaks for itself—don’t be scared by sensational headlines like “largest outflow in history.”