BlackRock IBIT sees a record single-day outflow of $523 million

ChainCatcher reports, the iShares Bitcoin Trust (IBIT) under BlackRock recorded its largest single-day net outflow since its inception in January 2024 on Tuesday.

IBIT saw a capital outflow of $523.15 million yesterday, surpassing the previous record of $463 million set on November 14. The ETF has experienced net outflows for five consecutive days, totaling $1.43 billion. As the world's largest spot bitcoin ETF (with net assets of $72.76 billion), IBIT has been in an outflow trend since late October. On a weekly basis, the fund has seen net outflows for four consecutive weeks, amounting to $2.19 billion.

This capital outflow coincides with a recent sharp decline in bitcoin, which earlier this week fell below $90,000 from its all-time high of $126,080 set in early October. Despite the continuous outflows, Vincent Liu, CIO of Kronos Research, stated that institutional investors are rebalancing rather than completely abandoning bitcoin.