BlackRock Inc.'s iShares Bitcoin Trust ETF (IBIT) experienced its largest outflows since launch, marking a third consecutive day of withdrawals and signaling a potential slowdown in institutional interest in Bitcoin. Other Bitcoin ETFs in the US also saw significant outflows, and Bitcoin futures open interest declined from its December peak. Experts attribute the trend to institutions reducing risk and adjusting portfolios for year-end.
Greg Newman, senior wealth advisor and portfolio manager of Newman Group at ScotiaMcLeod and Greg Taylor, chief investment officer at Purpose Investment, discus
The fund also suffered a third consecutive day of outflows, its longest losing streak, according to data compiled by Bloomberg. The tapering of flows to IBIT is another sign of Bitcoin’s record-breaking run in 2024 taking a breather. The group of a dozen Bitcoin exchange-traded funds in the US have posted a net outflow of about $2 billion since Dec. 19, according to data compiled by Bloomberg.
Bitcoin ETF Outflows Institutional Demand Cryptocurrency
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