BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded its largest single-day net outflow of $332.6 million on Thursday, surpassing the previous high of $188.7 million on Christmas Eve. The fund also posted $2.26 billion in trading volume for the day, according to SoSoValue.
Institutional portfolio rebalancing likely contributed to the massive outflow. “Large outflows from BlackRock’s IBIT may reflect institutional investors aligning portfolios with asset allocation targets, particularly in response to Bitcoin’s price trends or broader market shifts,” said Neal Wen, Head of Global BD at Kronos Research.
Despite recent underperformance compared to its early-December inflow streak—when Bitcoin reached its all-time high of $108,135—IBIT remains the largest spot bitcoin ETF, with total net inflows of $36.9 billion and net assets nearing $53.5 billion.
Other spot bitcoin ETFs saw mixed results on Thursday. Bitwise’s BITB led with $48.3 million in inflows, followed by Fidelity’s FBTC with $36.2 million. Ark Invest and 21Shares’ ARKB, VanEck’s HODL, and Grayscale Mini Bitcoin Trust also reported inflows. Conversely, Grayscale’s GBTC joined IBIT in reporting net outflows, losing $23.1 million. Overall, U.S. spot bitcoin ETFs saw $242.3 million in net outflows, with $3.24 billion in total trading volume.
Bitcoin’s price rose 1.3% over the past 24 hours to $96,690 by 1 p.m. in Hong Kong, according to The Block’s data.
Ethereum ETFs also experienced net outflows totaling $77.5 million on Thursday. Bitwise’s ETHW led the losses with $56.1 million in outflows, followed by $21.4 million from Grayscale’s ETHE. Ethereum ETFs recorded $397.2 million in trading volume, up from $313.1 million on Dec. 31, with cumulative total net inflows standing at $2.58 billion.