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Cryptocurrency News Articles
BlackRock's Bitcoin (BTC) Fund Records Largest Outflows Almost a Year After Going Live
Jan 03, 2025 at 03:01 pm
IBIT has recorded a string of outflows since Dec. 20 for the first time in its history, data shows, ranging from $17 million to as much as Thursday's figures.
Nasdaq-listed IBIT from BlackRock, which contains over $53 billion in net assets, saw over $332 million leave the fund on Thursday, data from SoSoValue shows. This dwarfs a previous record set late December, which saw the fund net outflows of $188 million over a short period.
The fund has seen outflows for a string of days since Dec. 20 for the first time in its history, data shows, ranging from $17 million to as much as Thursday’s figures.
Large outflows can be seen as a lack of confidence in the ETF's strategy, sector, or broader market segment. However, it could also be due to investors rebalancing their portfolios or taking profits, not necessarily a negative outlook on the ETF.
Other ETFs saw inflows, however, with Bitwise’s BITB taking on $48 million and Fidelity’s FBTC taking in $36 million. Grayscale’s GBTC was the only other ETF with outflows at $23 million.
Bitcoin trades just under $97,000 at writing time, up 1.5% in the past 24 hours.
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