As the largest spot Bitcoin ETF, Blackrock's IBIT faced a net outflow of 0.333 billion dollars on Thursday, marking the largest single-day outflow since the fund was launched. The weakening inflow momentum of IBIT reflects that the growth of Bitcoin has been slowing down since the end of 2024.
At the end of the year, institutional investors adjusted their Hold Positions, and Blackrock's Bitcoin ETF saw a record high Outflow of funds.
According to a report by Bloomberg, Blackrock's iShares Bitcoin REITs ETF (IBIT) experienced a net Outflow of 0.333 billion dollars on Thursday, marking the largest single-day Outflow for the Fund since its launch. Additionally, IBIT has seen three consecutive days of Outflow, setting the record for the longest decline since its establishment.
As the largest spot Bitcoin ETF, IBIT has been favored by institutional investors since its launch in January, managing Assets exceeding 53 billion dollars, with a net Inflow of nearly 37 billion dollars.
The weakening of the inflow of IBIT funds reflects that the momentum of Bitcoin's rise since the end of 2024 is slowing down. According to Bloomberg data, since December 19, the net outflow scale of 12 Bitcoin ETFs in the USA has reached about 2 billion dollars, and the open interest of Bitcoin Futures in the CME Group (which is regarded as an indicator of institutional demand in the USA) has also decreased by nearly 20% compared to the peak in December.
Paul Howard, the senior director of the cryptocurrency market maker Wincent, stated:
“The Outflow of funds and reduced open contracts were expected, as institutional investors are reducing their risk exposure and making year-end balance sheet adjustments for 'aesthetic purposes.'”
As of the time of publication, the trading price of Bitcoin is 96,551 dollars per coin, a decline of about 10% from the historical high.
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