▶️BlackRock's Bitcoin ETF records largest outflow in history

➕According to data from Farside Investors, U.S. spot Bitcoin ETFs on January 2nd - the first trading day of the New Year 2025 - recorded a total outflow of $247.8 million, continuing a streak of unfavorable results from mid-December to now.

➕Notably, leading the selling force yesterday was BlackRock's IBIT fund with an outflow of up to $332.6 million, the highest since it began operations in January 2024. This is also the third consecutive outflow for IBIT, a phenomenon never before seen in history.

➕Meanwhile, apart from Grayscale's GBTC fund which had an outflow of $23.1 million, all other ETFs either had inflows or did not report any activity.

➕Despite this, IBIT remains the largest spot Bitcoin ETF, with a total inflow of $36.9 billion over the past 12 months and currently holding BTC worth $53.5 billion.

➡️The reason IBIT has witnessed strong selling pressure recently may stem from large institutions in the U.S. rebalancing their investment portfolios in the new year, as well as preparing for the Q4/2024 performance report and fulfilling tax obligations.