BlackRock's Bitcoin ETF Records Largest Single-Day Outflows

Investors withdrew $333 million from BlackRock's iShares Bitcoin Trust in a single day, driven by profit-taking and year-end portfolio adjustments.

BlackRock's iShares Bitcoin Trust (IBIT) experienced $333 million in outflows on January 2, marking the largest single-day withdrawal since the fund's launch.
The outflows contributed to a three-day streak of withdrawals, totaling nearly $393 million for the week, the longest such stretch for the ETF.
Analysts attribute the record outflows to profit-taking by investors following Bitcoin's strong performance in 2024 and year-end tax-loss harvesting.
Bitcoin's price, currently near $98,000, has slowed after reaching an all-time high of over $108,000 in December following a rally spurred by pro-crypto policies under the Trump administration.
Despite recent outflows, BlackRock's Bitcoin ETF remains a significant force in the market, with over $54 billion in assets under management and optimism about its role in driving institutional adoption of Bitcoin.