The US spot Bitcoin ETF is back in the spotlight after recording a fund outflow of around $104.9 million in the latest trading session.
At the time of writing, Bitcoin is currently at $66,489, down 0.01% since it opened early Thursday in Asian trading.
While this number is not as large as it was before, it still reflects cautious sentiment among institutional investors.
More significantly, trading volume has also declined to around $3 billion, well below its early February peak, indicating that market momentum is slowing.
However, despite the outflows, the 2025 Q4 holdings report revealed an interesting development.
BlackRock iShares Bitcoin Trust (IBIT) received large purchases from several institutions, including Jane Street which bought around $276 million.
Most notable was Hong Kong-based company Laurore, which made a single purchase worth $436.2 million and reported it to the U.S. Securities and Exchange Commission.
The move has sparked speculation that Chinese institutional capital may start entering the Bitcoin market via ETFs.
At the same time, some big players have also reduced their exposure, including Brevan Howard and Goldman Sachs.
This mix of buying and selling suggests the market is not in a state of panic, but is going through a phase of readjustment.
While trading activity has slowed, institutional movements suggest that long-term strategies are still being worked out behind the scenes.
