Key Takeaways:
- BlackRock’s IBIT ETF experienced a record $332M outflow on Jan 3, the largest in its history, following consistent withdrawals since Dec 20.
- Other ETFs like Bitwise’s BITB and Fidelity’s FBTC saw inflows of $48M and $36M, respectively, while Grayscale’s GBTC reported $23M in outflows.
- Bitcoin continues its upward trend, trading just under $97K, up 1.5% in the last 24 hours.
BlackRock’s Bitcoin ETF (IBIT) experienced a record $332 million in outflows on January 3, marking the largest single-day withdrawal in its history.
This surpasses its previous record of $188 million in late December and follows consistent outflows since December 20.
Investors yanked a net $333 million from BlackRock’s iShares Bitcoin Trust ETF on Thursday, the most withdrawn from the record-breaking fund since its launch https://t.co/Zu9s4a9rxC
— Bloomberg Crypto (@crypto) January 3, 2025
IBIT, managing over $53 billion in assets, has faced investor withdrawals totaling millions, potentially indicating reduced confidence in its strategy, profit-taking, or routine portfolio adjustments.
In contrast, rival ETFs such as Bitwise’s BITB and Fidelity’s FBTC saw inflows of $48 million and $36 million, respectively.
Grayscale’s GBTC also faced outflows, albeit smaller at $23 million.
Despite IBIT’s challenges, Bitcoin’s price rose 1.5% in the past 24 hours, trading just under $97,000 at the time of reporting.
The contrasting fund performances highlight shifts in investor sentiment across the cryptocurrency ETF landscape.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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