Record Outflow from BlackRock’s Bitcoin ETF Highlights Investor Sentiment
- BlackRock’s Bitcoin ETF, IBIT, experienced a record one-day outflow of $523.2 million.
- The average cost basis for spot Bitcoin ETF buyers is approximately $90,000.
- Most investors in the ETF are currently roughly flat in terms of returns.
The significant outflow from BlackRock’s Bitcoin ETF indicates a shift in investor sentiment, particularly as many holders remain at break-even levels with an average cost basis near $90,000.
This record outflow underscores the challenges facing investors as they navigate a volatile market, with most now seeing little to no profit on their investments. (Source)
