BlackRock’s IBIT Sees Inflows Amid $326.4M Bitcoin ETF Outflow

• U.S. spot bitcoin ETFs saw the largest daily outflow since September 26, with $326.4 million exiting on Monday.
• BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract inflows despite a broader market trend of outflows.
• IBIT recorded $134 million in new inflows over two trading sessions, even as bitcoin's price dropped from $122,000 to $107,000.
• While IBIT has seen inflows for 10 consecutive days, recent sessions have witnessed reduced inflow amounts ($74.2 million and $60.4 million).
• Historically, IBIT's inflows have mirrored bitcoin's price movements, with inflows during rallies and outflows after price drops.
• Since reaching an all-time high of $126,000 on October 6, bitcoin experienced a 20% correction, yet IBIT maintained consistent inflows.

U.S. Market Returns Decline

• Bitcoin's performance during U.S. trading hours has weakened significantly since its peak.
• In early October, bitcoin was up over 10% during U.S. hours but has now decreased to 1.7%.
• Despite the decline, bitcoin still outperforms during U.S. hours compared to European and Asian sessions, which show negative returns.