Bitcoin (BTC), the largest publicly traded cryptocurrency, recorded its highest outflow on Thursday after nearly a year in operation.
BlackRock's Nasdaq-listed IBIT, which has more than $53 billion in net assets, saw more than $332 million exit the fund on Thursday, according to data source SoSoValue. This surpassed the short-term record of $188 million set in late December.
According to the data, IBIT has recorded a series of outflows since Dec. 20 for the first time in its history, ranging in size from $17 million to Thursday's figures.
Large outflows can be seen as a lack of confidence in an ETF's strategy, sector, or broader market segment. However, the outlook for ETFs is not necessarily negative, as this could be due to investors rebalancing their portfolios or taking profits.
But other ETFs also recorded inflows, with Bitwise's BITB receiving $48 million and Fidelity's FBTC receiving $36 million. Grayscale's GBTC was the only other ETF to lose $23 million.
Bitcoin was trading at just under $97,000 at the time of writing, up 1.5% in the past 24 hours.
