Bitcoin ETFs under pressure after record outflows at BlackRock
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Regulation Crypto
The cryptocurrency market has recently been shaken by a record outflow of $73 million from BlackRock's Bitcoin exchange-traded fund (ETF) (IBIT). This event marks the largest fund outflow since the ETF's launch in January 2024.
An investor looking at their phone with a fearful and panicked expression, a notification showing M record outflow with bitcoin coins in the air. In front of the image of a giant phone displaying BlackRock.
BlackRock's Bitcoin ETF suffers a record outflow of $73 million
On December 20, BlackRock's IBIT recorded an outflow of $72.7 million, ending a series of fund inflows that had characterized the ETF since its inception. This massive outflow closely followed another record outflow of $208.5 million from Fidelity's Bitcoin fund, the FBTC, on December 19. These two consecutive events have raised concerns among investors about the stability and future of Bitcoin ETFs.
