Summary: BlackRock’s iShares Bitcoin Trust (IBIT) just got rocked with a $332M outflow the biggest since it launched. Even though IBIT is still the top dog with $51B in assets, the crypto crowd is wondering if this is a blip or the start of a bigger trend.
IBIT’s Wild Ride
Talk about drama—BlackRock’s IBIT just had its worst day ever, losing a jaw-dropping $332M in investor cash. That’s on top of the $188M pulled out a few weeks back, making this the third day in a row of outflows. This ETF was a total flex in 2024, helping Bitcoin hit its all-time high of $108,315. But now? It’s looking like some investors are hitting the brakes, maybe rebalancing portfolios or playing it safe with year-end vibes.
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Bitcoin ETFs Are Taking Hits Everywhere
It’s not just IBIT catching the fade. Across the U.S., Bitcoin ETFs have seen a total of $2B in outflows since mid-December. Even futures trading on the Chicago Mercantile Exchange is feeling it, with a 20% drop in open interest. Big players seem to be tapping out for now, but IBIT’s still holding a whopping 552,000 BTC.
What’s Next for Crypto’s MVP?
While some see this as a red flag, others think it’s just a reset before the market bounces back. Either way, IBIT’s got a lot riding on 2025. If Bitcoin stays the king of the digital jungle, IBIT could still come out swinging.
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