New data reveals that asset management titan BlackRock’s spot Bitcoin ( BTC ) exchange-traded fund (ETF) saw a record number of outflows earlier this week. According to data from blockchain tracker SoSoValue, BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw a staggering $332.6 million worth of outflows on January 2nd, its largest day of outflows on record. The data also shows that other spot market BTC ETFs were mostly in the green as Fidelity’s FBTC, Arkham’s ARKB and Bitwise’s BITB all posted inflows of $36.2 million, $16.5 million, and $48.3 million respectively. Another notable ETF that posted outflows was Grayscale’s GBTC, coming in at $23 million. IBIT and GBTC’s combined outflows made the first trading day of the year red for ETFs associated with the top crypto asset by market cap, bringing down daily total net inflows to -$242.3 million. IBIT launched in January of 2024 after Bitcoin-based ETFs were approved by the U.S. Securities and Exchange Commission (SEC) after a judge ordered the regulatory agency to rethink its viewpoint on the matter to remain consistent with its other stances. In November, it was reported that IBIT had surpassed BlackRock’s gold ETF (IAU) in terms of net assets, reaching over $33 billion. As stated by Nate Geraci, co-founder of the ETF Institute, at the time, “iShares Bitcoin ETF (IBIT) has now surpassed iShares Gold ETF in assets… Did this in 10 months. IAU launched in January 2005. Absolutely wild.” IBIT is trading for $56.04 at time of writing. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post BlackRock Spot Bitcoin ETF Witnesses $332,620,000 in Outflows, the ETF’s Largest-Ever Exodus in a Single Day appeared first on The Daily Hodl .
