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.”
