Bitcoin ETF observes record $332M in daily outflows, but BTC holds strong above $98K

Bitcoin ( BTC-USD ) investors closely watched a dramatic shift in the market on Thursday, as the world’s largest bitcoin-backed exchange-traded fund saw its biggest ever daily outflows, with more than $300M flowing out of the fund in a single day. In total, the iShares Bitcoin Trust ETF ( NASDAQ: IBIT ) experienced a withdrawal of $332M which represents roughly 0.7% of the total assets of IBIT. Currently, IBIT holds $52.14B in AUM. As of Friday afternoon, bitcoin is +1.7% and trades near $98.5K. The crypto is 9.7% below its record high of $108,364. From a momentum perspective, bitcoin also trades north of its 20-, 50-, 100-, and 200-day moving average. It has climbed 8.1% from its earlier week’s low of $91.3K. Moreover, IBIT sits at $56.25 a share, lower by 8.9% from its all-time high of $61.74. For investors looking to monitor the crypto world, IBIT is not the only bitcoin backed ETF on the market. Other funds that are worth noting include: ( ARKB ), ( GBTC ), ( BRRR ), ( BTCO ), ( HODL ), ( BTCW ), ( FBTC ), ( BITB ), and ( EZBC ). [Note: IBIT fund flow data is per Bloomberg.] More on markets Evercore ISI predicts Tech will lead the S&P 500 to another 20% upside year in 2025 Time In The Market Beats Timing The Market 3 Market Predictions For January No S&P 500 stocks are overbought, but these are the 10 most oversold names Dividend Roundup: Johnson & Johnson, JPMorgan, Oracle, Mastercard, and more