BlackRock’s iShares Bitcoin Trust faced its sharpest single-day withdrawal since launching in January 2024, marking a notable shift in sentiment across digital asset ETFs. Data from SoSoValue shows the fund shed 523.15 million dollars on Tuesday, surpassing its previous record of 463 million dollars set in mid-November.
The outflow adds to a growing trend. IBIT has recorded five consecutive days of redemptions, totaling 1.43 billion dollars. On a broader scale, the world’s largest spot bitcoin ETF, holding 72.76 billion dollars in net assets, has posted four straight weeks of outflows amounting to 2.19 billion dollars.
The timing aligns with bitcoin’s recent pullback. After climbing to an all-time high of 126,080 dollars in early October, the cryptocurrency dropped below 90,000 dollars earlier this week. Prices have since edged back up, with bitcoin trading around 91,849 dollars in the past 24 hours.
Despite the turbulence, some analysts say the withdrawals reflect strategic repositioning rather than an exodus from digital assets. Vincent Liu, CIO at Kronos Research, said institutional players are adjusting exposure as they navigate an uncertain macro environment. According to Liu, investors are trimming risk while waiting for clearer signals on interest rates and broader economic conditions.
Liquidity across crypto markets has been under pressure, weighed down by the extended U.S. government shutdown and the anticipation surrounding the Federal Reserve’s December policy decision. The CME Group’s FedWatch Tool currently shows about a 49 percent chance of a quarter-point rate cut next month.
Across the wider ETF landscape, Tuesday’s sizable IBIT outflows were large enough to outweigh inflows into competing spot bitcoin funds from Grayscale and Franklin Templeton, leading to a combined daily net outflow of 372.7 million dollars across all spot BTC ETFs.
Ethereum products followed a similar path. BlackRock’s ETHA saw 165 million dollars exit the fund, overshadowing the 91 million dollars in inflows spread across other issuers like Grayscale, Bitwise, VanEck, and Franklin Templeton.
Solana ETFs Draw Continued Interest
While bitcoin and ether funds struggled, Solana products continued to gain ground. Two new ETFs launched Tuesday: Fidelity’s FSOL, which attracted 2.07 million dollars on day one, and Canary Capital’s SOLC, which saw no flows. Meanwhile, Bitwise’s BSOL added 23 million dollars, and Grayscale’s GSOL collected 3.19 million dollars.
Since BSOL’s debut on October 28, Solana ETFs have now posted 16 straight days of inflows totaling 420.4 million dollars. Liu noted that Solana’s steady streak suggests growing interest in alternative assets, supported by a mix of staking rewards and exposure wrapped into a single investment vehicle.
Elsewhere in the altcoin market, Canary’s spot XRP ETF took in 8.32 million dollars, while its Litecoin and Hedera funds logged no activity.
