BlackRock's IBIT Bucks the Trend with Continued Inflows Despite Weak Bitcoin Price Action

Core Insights - U.S. spot bitcoin ETFs experienced their largest daily outflow since September 26, totaling $326.4 million, while BlackRock's iShares Bitcoin Trust (IBIT) saw continued inflows of $134 million despite a drop in bitcoin's price from $122,000 to $107,000 [1][2] Group 1: ETF Performance - IBIT has recorded inflows for 10 consecutive trading days, although recent inflows of $74.2 million and $60.4 million are significantly lower than previous sessions that saw at least $200 million [2] - Historically, IBIT's inflows have mirrored bitcoin's price movements, with inflows increasing during price rallies and outflows during declines [3] Group 2: Market Trends - Bitcoin's performance during U.S. trading hours has weakened since its all-time high, dropping from over 10% gains to just 1.7% [4] - Despite the decline in U.S. trading performance, bitcoin continues to outperform in the U.S. compared to negative returns in European and Asian trading sessions over the past month [4]