BlackRock's IBIT, the largest public fund tracking bitcoin, recorded its highest outflows on Thursday, exceeding $332 million. This follows a string of outflows since December 20, raising questions about investor confidence. However, other bitcoin ETFs saw inflows, suggesting a mixed sentiment in the market.
Data shows that BlackRock’s IBIT , which holds over $53 billion in net assets, saw over $332 million leave the fund on Thursday. This is the highest outflows recorded by the largest public fund tracking bitcoin (BTC) since it went live nearly one year ago. BlackRock’s Nasdaq-listed IBIT has recorded a string of outflows since December 20 for the first time in its history, ranging from $17 million to as much as Thursday’s figures.
Large outflows can be seen as a lack of confidence in the ETF's strategy, sector, or broader market segment. However, it could also be due to investors rebalancing their portfolios or taking profits, not necessarily a negative outlook on the ETF. Other ETFs recorded inflows, however, with Bitwise’s BITB taking on $48 million and Fidelity’s FBTC taking in $36 million. Grayscale’s GBTC was the only other ETF with outflows at $23 million
BLACKROCK IBIT BITCOIN ETF OUTFLOWS INVESTOR SENTIMENT
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