BlackRock’s iShares Bitcoin Trust ETF (IBIT) experienced its biggest daily outflow since its inception, reporting net outflows of $332.6 million on Thursday.
BlackRock's Bitcoin ETF Posts Biggest Single-Day Outflow Since Launch
The sharp decline surpassed the previous record of $188.7 million on Christmas Eve, underscoring a notable shift in investor behavior.
Record Highs Amid Market Volatility
Thursday’s outflows came against a backdrop of $2.26 billion in trading volume for IBIT, according to SoSoValue data.
This represents a significant change from the series of entries seen in early to mid-December, when Bitcoin surged to a new all-time high of $108,135.
“Institutional investors frequently rebalance their portfolios to align with their asset allocation goals,” said Neal Wen, Global Head of BD at Kronos Research. “The large outflows from BlackRock’s IBIT may reflect such activity, particularly in response to Bitcoin’s price movements or broader market conditions.”
Despite the record outflows, IBIT remains the dominant spot bitcoin ETF with cumulative net inflows of $36.9 billion and net assets approaching $53.5 billion.
Other Bitcoin ETFs saw modest inflows on Thursday:
Bitwise's BITB: $48.3 million net inflow.
Fidelity's FBTC: $36.2 million net inflow.
Ark Invest, 21Shares, VanEck, and Grayscale Mini Bitcoin Trust funds also saw positive net inflows.
However, Grayscale’s GBTC reported net outflows of $23.1 million. In total, US spot Bitcoin ETFs recorded net outflows of $242.3 million, with a cumulative trading volume of $3.24 billion.
*This is not investment advice.
