The spot Bitcoin ETF market in the U.S. is struggling as investors withdraw funds due to a lack of price momentum for BTC. The BlackRock iShares Bitcoin Trust (IBIT) recorded the largest outflow in a single day since its launch nearly a year ago.

- According to CoinGlass, on January 2nd, investors withdrew approximately $332.6 million from IBIT. In total, 11 spot Bitcoin ETFs recorded outflows of $247.8 million, despite some funds having inflows of over $106 million.

- Besides IBIT, Grayscale’s GBTC recorded an outflow of $23.10 million, while the funds from Fidelity, Ark Invest/21Shares, Bitwise, and VanEck had slight inflows.

- Despite recent poor performance, IBIT remains the largest spot Bitcoin ETF with AUM of over $51 billion. 🚀