At the end of the year, institutional investors are adjusting their positions, and BlackRock's Bitcoin ETF sees record outflows.
According to Bloomberg, BlackRock's iShares Bitcoin Trust ETF (IBIT) experienced a net outflow of $333 million on Thursday, marking the largest single-day outflow since the fund's launch. Additionally, IBIT has seen outflows for three consecutive days, setting a record for the longest consecutive decline since its inception.
As the largest spot Bitcoin ETF, IBIT has been favored by institutional investors since its launch in January, with assets under management exceeding $53 billion and net inflows of nearly $37 billion.
The weakening inflow momentum of IBIT reflects that the Bitcoin rally since the end of 2024 is slowing down. Bloomberg data shows that since December 19, the net outflow from 12 Bitcoin ETFs in the U.S. has reached approximately $2 billion, and the open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME), seen as an indicator of U.S. institutional demand, has also decreased by nearly 20% from its December peak.
Paul Howard, Senior Director at cryptocurrency market maker Wincent, stated:
<blockquote>
“The outflows and reduction in open interest are expected, as institutional investors are reducing risk exposure and 'dressing up' for year-end balance sheet adjustments.”
</blockquote>
As of the time of publication, the trading price of Bitcoin is $96,759 per coin, down about 10% from its historical high.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/e3fc8a32-7767-468c-b339-9388695d2233.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/e3fc8a32-7767-468c-b339-9388695d2233.png"/>

As the largest spot Bitcoin ETF, BlackRock's IBIT experienced a net outflow of $333 million on Thursday, marking the largest single-day outflow for the fund since its launch. The weakening inflow momentum for IBIT reflects that the price increase of Bitcoin since the end of 2024 is slowing down

- BlackRock's iShares Bitcoin Trust ETF (IBIT) experienced a record net outflow of $333 million, marking its largest single-day outflow since launch.  
- The ETF has seen outflows for three consecutive days, the longest streak since its inception, reflecting a slowdown in Bitcoin's price momentum since late 2024.  
- As of the report, Bitcoin is trading at $96,759, approximately 10% below its historical peak, with total net outflows from U.S. Bitcoin ETFs reaching about $2 billion since December 19.

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Market cools down! BlackRock's Bitcoin ETF sees the largest outflow since its launch