BlackRock's Bitcoin spot ETF - 'iShares Bitcoin Trust (IBIT)' set a record for the highest outflow since its listing on Thursday, with a total net outflow of $330 million, causing a stir in the market.
The scale of fund withdrawals from IBIT has even surpassed the record of $188.7 million in net outflows set last Christmas. According to SoSoValue data, IBIT's trading volume reached $2.26 billion on Thursday.
Neal Wen, Global Business Director of Kronos Research, pointed out:
Institutional investors often adjust their portfolios to achieve asset allocation goals. The large-scale outflow from IBIT likely reflects such operations, especially when Bitcoin prices become more volatile or when market conditions change, this situation occurs more frequently.
Bitcoin prices have retreated, and IBIT's inflows have slowed.
IBIT's recent performance has shown some weakness, and compared to the capital frenzy when Bitcoin surged to a historic high of $108,135 in early December, the speed of recent inflows has noticeably slowed.
However, IBIT still firmly holds the title of the world's largest Bitcoin spot ETF, having attracted a cumulative inflow of $36.9 billion since its listing, with total assets under management reaching $53.5 billion.
Other Bitcoin ETFs have varied performances, and a phenomenon of fund diversion has emerged.
While IBIT experienced a wave of withdrawals, other Bitcoin ETFs showed robust inflows. For example, Bitwise's BITB saw a net inflow of $48.3 million in a single day; Fidelity's FBTC recorded a net inflow of $36.2 million; Ark Invest and 21Shares' ARKB, VanEck's HODL, and Grayscale's Grayscale Mini Bitcoin Trust also attracted varying degrees of fund inflows on the same day.
The only weak performer, besides IBIT, is Grayscale's flagship fund GBTC, which saw a net outflow of $23.1 million on the same day. Overall, the net outflow scale of all U.S. Bitcoin spot ETFs on Thursday was approximately $242.3 million, while the trading volume reached as high as $3.24 billion, highlighting the strong trading demand in the market.
As of the time of writing, Bitcoin is priced at $96,136, having edged up 0.4% in the past 24 hours, indicating that market confidence in Bitcoin has not been completely shaken.
The Ethereum spot ETF also faced withdrawals.
At the same time, the Ethereum spot ETF also faced pressure from fund outflows on Thursday, with a net outflow of $77 million, including Bitwise's ETHW, which had a single-day outflow of $56.1 million, and Grayscale's ETHE also recorded a withdrawal of $21.4 million.
Nevertheless, the total trading volume of the Ethereum spot ETF increased from $313.1 million on December 31 to $397.2 million, with cumulative net inflows remaining at $2.58 billion, indicating that long-term investment demand remains solid.
