BlackRock's Bitcoin spot ETF, "iShares Bitcoin Trust (IBIT)", recorded its highest loss since its listing on Thursday, with a total net outflow of US$330 million, causing an uproar in the market.
The scale of IBIT's capital withdrawal even exceeded the net outflow record of $188.7 million set on Christmas last year. According to SoSoValue data, IBIT's trading volume reached $2.26 billion on Thursday.
Neal Wen, global business director at Kronos Research, analyzed:
Institutional investors often adjust their portfolios to achieve asset allocation goals. The massive outflow of IBIT this time is likely to reflect such operations, especially when Bitcoin price volatility increases or market conditions change, which will happen more frequently.
Bitcoin price falls, IBIT fund inflow slows down
IBIT has performed slightly weak recently, with the inflow of funds slowing down significantly compared to the capital frenzy when Bitcoin soared to an all-time high of $108,135 in early December.
However, IBIT still holds the title of the world's largest Bitcoin spot ETF, having attracted a total of $36.9 billion in inflows since its listing, with total assets under management reaching $53.5 billion.
Other Bitcoin ETFs have mixed performances, and fund diversion has emerged
While IBIT was experiencing a wave of withdrawals, other Bitcoin ETFs showed a steady inflow performance. For example, Bitwise's BITB had a net inflow of $48.3 million in a single day; Fidelity's FBTC recorded a net inflow of $36.2 million; ARKB jointly launched by Ark Invest and 21Shares, VanEck's HODL, and Grayscale's Grayscale Mini Bitcoin Trust also attracted varying degrees of capital inflows on the same day.
The only weak performers besides IBIT were Grayscale's flagship fund GBTC, which had a net outflow of $23.1 million on the day. Overall, the net outflow of Bitcoin spot ETFs in the United States on Thursday was about $242.3 million, while the trading volume on the day was as high as $3.24 billion, highlighting that there is still a strong demand for transactions in the market.
As of writing, Bitcoin is trading at $96,136, up slightly by 0.4% over the past 24 hours, showing that market confidence in Bitcoin has not yet been completely shaken.
Ethereum spot ETF also suffered withdrawals
At the same time, Ethereum spot ETFs also faced pressure from capital outflows on Thursday, with a net outflow of US$77 million. Among them, Bitwise's ETHW had a single-day outflow of US$56.1 million, and Grayscale's ETHE also recorded a capital withdrawal of US$21.4 million.
Despite this, the total trading volume of the Ethereum spot ETF on that day increased from US$313.1 million on December 31 to US$397.2 million, and the cumulative net inflow remained at US$2.58 billion, indicating that long-term investment demand remains solid.
