BlackRock’s Bitcoin ETF Sees Record Outflows to Start the Year
BlackRock’s IBIT, the largest publicly traded Bitcoin ETF, kicked off the new year on a sour note, experiencing significant investor outflows on Thursday.
The Nasdaq-listed IBIT, which manages over $53 billion in assets, recorded net outflows surpassing $332 million, according to data from SoSoValue. This marks the fund’s largest single-day withdrawal since its inception, surpassing the previous record of $188 million set in late December.
While substantial outflows might signal waning investor confidence in the ETF, they can also reflect routine portfolio rebalancing or profit-taking rather than a bearish sentiment toward Bitcoin or the fund itself.
In contrast, other Bitcoin ETFs attracted fresh capital. Bitwise’s BITB recorded $48 million in inflows, while Fidelity’s FBTC brought in $36 million. Grayscale’s GBTC, however, joined IBIT in the red, with outflows totaling $23 million.
At the time of writing, Bitcoin is trading just below $97,000, marking a 1.5% gain over the past 24 hours.
