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Bitcoin Spot ETF Experiences Major Fund Outflows on the First Day of the New Year
On January 1st, the US cryptocurrency market opened with a significant outflow of funds from Bitcoin spot ETFs. Multiple funds simultaneously experienced withdrawals, totaling approximately $348.1 million.
**Outflow Volumes by Fund**
BlackRock's IBIT faced the largest outflow, withdrawing over $99 million. Fidelity-managed FBTC also experienced a withdrawal of $66.6 million, and ARKB lost $76.5 million. Among individual ETFs, IBIT's outflow was particularly prominent, highlighting that multiple major ETFs saw nearly simultaneous fund movements.
**Investor Sentiment at the Start of the New Year**
The widespread outflows on the first day of the year clearly reflect a shift in investor sentiment around the New Year period. While Bitcoin spot ETFs had maintained steady inflows since last year, this outflow phase may be driven by short-term profit-taking and portfolio rebalancing. Market participants are also likely cautious about the outlook for the New Year and potential regulatory changes affecting cryptocurrencies.