BlackRock’s iShares Bitcoin Trust ETF (IBIT) reported net outflows of $332.6 million on Thursday, marking its largest daily outflow since launching last year.
Thursday’s record outflows exceeded the previous record of $188.7 million in net outflows observed on Christmas Eve. IBIT had $2.26 billion in trading volume yesterday, according to data from SoSoValue.
“Institutional investors often rebalance their portfolios to align with asset allocation targets,” said Neal Wen, Head of Global BD at Kronos Research. “The large outflows from BlackRock's IBIT may reflect such activity, particularly in response to Bitcoin's price movements or broader market conditions.”
BlackRock’s bitcoin ETF has underperformed in recent weeks in terms of daily flows compared to its string of significant net inflows seen in early to mid-December, during which bitcoin rallied to hit its all-time high of $108,135.
Still, IBIT remains the largest spot bitcoin ETF, so far accumulating a total net inflow of $36.9 billion, with net assets of nearly $53.5 billion.
Meanwhile, several other spot bitcoin ETFs reported moderate inflows on Thursday. Bitwise’s BITB had $48.3 million in net inflows, followed by $36.2 million in inflows into Fidelity’s FBTC. Ark Invest and 21Shares’ ARKB, VanEck’s HODL and Grayscale Mini Bitcoin Trust also recorded net inflows yesterday.
The only other net outflow came from Grayscale’s GBTC, totaling $23.1 million. In total, spot bitcoin ETFs in the U.S. experienced net outflows of $242.3 million on Thursday and traded $3.24 billion.
The price of bitcoin rose 1.3% in the past 24 hours leading up to 1 p.m. in Hong Kong, changing hands at $96,690, according to The Block's bitcoin price page.
U.S. spot Ethereum ETFs saw total net outflows of $77.5 million yesterday. Outflows were led by Bitwise’s ETHW, which saw $56.1 million leave the fund. Grayscale’s ETHE reported $21.4 million in outflows.
The ether funds recorded a total trading volume of $397.2 million on Thursday, up from $313.1 million on Dec. 31. Their cumulative total net inflows stood at $2.58 billion.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
