Based on dollar-weighted flows, aggregate returns for investors in BlackRock’s iShares Bitcoin Trust have turned negative following Bitcoin’s recent sell-off.
Bitcoin’s sharp decline over the weekend has likely pushed the aggregate investor position in the largest spot Bitcoin exchange-traded fund (ETF) into negative territory, underscoring the severity of the recent downturn.
According to Bob Elliott, chief investment officer at asset manager Unlimited Funds, the average dollar invested in BlackRock’s iShares Bitcoin Trust (IBIT) is now underwater following Friday’s close. The shift coincided with a steep drop in Bitcoin’s (BTC) price, which slid into the mid-$70,000 range.
Elliott shared a chart tracking aggregate, dollar-weighted investor returns, showing cumulative gains slipping slightly into negative territory as of late January.
