BlackRock's Bitcoin Spot ETF Faces Turbulence, A Wave of Fund Withdrawals Hits!
🌪️ Look everyone! BlackRock's Bitcoin spot ETF "iShares Bitcoin Trust (IBIT)" experienced its most severe fund outflow since its listing on Thursday, with net outflows reaching as high as $330 million, shocking the entire market! This figure not only surpasses last year's Christmas outflow of $188.7 million but also indicates that the market's volatility is as thrilling as a roller coaster! 🎢
According to Neal Wen of Kronos Research, this wave of capital withdrawal may be due to institutional investors adjusting their asset allocation, and this situation will become increasingly frequent with the fluctuations in Bitcoin prices. Although IBIT has seemed weak recently, it still holds the title of the world's largest Bitcoin spot ETF, attracting $36.9 billion in inflows and managing assets totaling $53.5 billion, truly not to be underestimated! 💼💰
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