Record Outflows Hit BlackRock’s Bitcoin ETF
- BlackRock’s IBIT saw $332 million in outflows on Thursday.
- The fund holds over $53 billion in net assets.
- IBIT has experienced continuous outflows since Dec. 20.
- Bitcoin price is just under $97,000, up 1.5% in the past day.
The significant outflow of $332 million from BlackRock’s IBIT may indicate investor rebalancing or profit-taking rather than a negative sentiment towards the ETF. The continual outflows could impact the fund’s strategy and market perception, especially as other ETFs like Bitwise’s BITB and Fidelity’s FBTC recorded inflows during the same period.
