BlackRock’s iShares Bitcoin ETF shines amid sector outflows, expands to Canada
BlackRock’s iShares Bitcoin Trust (IBIT) experienced a $29.5 million inflow amid a challenging period for US Bitcoin ETFs, which faced $284.1 million in net outflows on January 13. Fidelity’s Bitcoin ETF (FBTC) led the losses with $113.6 million in outflows, followed by ARK’s Bitcoin ETF (ARKB) with $92.4 million and Grayscale’s GBTC with $89 million. Cumulative outflows across the sector exceeded $1 billion over three trading days, indicating shifts in institutional investment strategies. Bitcoin's price fell to a two-month low of under $89,400 before recovering to $96,828. BlackRock is launching IBIT in Canada, offering two versions: IBIT on Cboe Canada and a US dollar-denominated version, IBIT.U. This expansion aims to provide Canadian investors with accessible and cost-efficient Bitcoin exposure through traditional brokerage accounts. IBIT has been recognized as one of the most successful ETF launches of the decade in the US.
