BlackRock Bitcoin ETF Sees Biggest Outflow Since Launch

The crypto market showed signs of recovery as Bitcoin, Ethereum and other altcoins rebounded over the last 24 hours.

BlackRock's iShares Bitcoin ETF (IBIT) recorded its largest-ever outflow on Tuesday with $188.7 million, highlighting the shifting sentiment in the crypto market.

The outflow from IBIT was significant, almost doubling its previous largest outflow of $72.7 million on Friday. The outflows from IBIT have been a point of concern for some traders, especially with the year-end crypto expiry approaching.

While analysts and investors are generally bullish, recent predictions by experts like BitMEX co-founder Arthur Hayes about a potential crypto market crash around Donald Trump's inauguration day have sparked sell-offs.

The outflows from US-based spot Bitcoin ETFs also continued for the fourth day with a total outflow of $338.4 million on Tuesday.

Fidelity's FBTC saw outflows of $83.2 million and Ark 21Shares' ARKB ETF also saw outflows of $75 million.

The outflows from other crypto exchange-traded funds were negligible.

The crypto market showed signs of recovery on Tuesday as Bitcoin, Ethereum and other altcoins rebounded over the last 24 hours. Bitcoin price recovered from $94K to $99K today as traders appeared to be FOMOing into the Santa Claus rally. BTC currently trades above $98K, but a shift in sentiment could lead to traders booking profits.