BlackRock’s Bitcoin ETF Hit By Record $332 Million Net Outflow In A Single Day
BlackRock’s IBIT Bitcoin ETF saw a record $332 million net outflow on Thursday, the largest since its launch a year ago. BlackRock’s iShares Bitcoin Trust ETF (IBIT), which holds over $53 billion in net assets, reported $332.6 million in net outflows on January 3, exceeding the previous record of $188.7 million in net outflows that happened on Christmas Eve. BlackRock's IBIT ETF saw a record outflow after a banner year — a net $333M left it on Jan. 2 amid on a third consecutive day of outflows. Its longest losing streak is not necessarily alarming, as it could have been due to portfolio rebalancing or profit taking. #Bitcoin #crypto — EarnBIT (@Earnbit2) January 3, 2025 IBIT experienced $2.26 billion in trading volume yesterday, based on SoSoValue data. Neal Wen, the Head of Global Business Development at Kronos Research, said that investors “often rebalance their portfolios to align with asset allocation targets.” “The large outflows fro...