The US Spot Bitcoin ETF has ended its 16-day inflow streak this week, as the crypto market recorded a massive pullback. Amid this, BlackRock Bitcoin ETF (IBIT) recorded its highest outflow since launch, sparking concerns among investors. Simultaneously, Fidelity’s FBTC also witnessed the largest decline earlier this week, which reflected the waning risk-bet appetite of the investors.
BlackRock Bitcoin ETF Records Largest Outflow Ever
The recent crypto market crash has weighed on the investors’ sentiment, as evidenced by the significant pullback in digital assets. Amid the recent Bitcoin crash, the US Spot Bitcoin ETFs also recorded outflow this week, ending their 16-day inflow streak on December 18.
BlackRock Bitcoin ETF (IBIT) has recorded its highest outflow of $72.7 million on Friday, December 20, Farside Investors data showed. This comes a day after Fidelity’s FBTC recorded an outflux of $208.5 million, its largest outflow ever since the investment instruments were launched in the US on January 2024. The overall outflow of the US Spot BTC ETF was $671.9 million and $277 million on December 19 and December 20, respectively.
Meanwhile, Bitcoin has recorded a robust rally this year, especially after Donald Trump’s election win in November. It touched a new all-time high of $108K earlier this month, amid soaring optimism toward the US Bitcoin Strategic Reserve. On the other hand, other global leaders like the Europe also hinted towards a similar move ahead.
Simultaneously, corporations have also increased their focus on the investment instrument. For context, MicroStrategy has continued its BTC buying strategy, reflecting its growing confidence in the asset. Besides, Bitcoin miners like MARA, Hut 8, and others also accumulated massive BTC. Despite that, these recent outflows from BlackRock Bitcoin ETF and others appeared to have weighed on the investors’ sentiment.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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