(Bloomberg) -- Investors yanked a net $333 million from BlackRock Inc.’s iShares Bitcoin Trust ETF (IBIT) on Thursday, the most withdrawn from the record-breaking fund since its launch.

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The fund also suffered a third consecutive day of outflows, its longest losing streak, according to data compiled by Bloomberg.

As the largest spot Bitcoin fund with over $53 billion in assets and nearly $37 billion in inflows, IBIT proved a major hit with institutional investors after a January launch and helped push the largest digital asset to an all-time high of $108,315 in mid-December.

The tapering of flows to IBIT is another sign of Bitcoin’s record-breaking run in 2024 taking a breather. The group of a dozen Bitcoin exchange-traded funds in the US have posted a net outflow of about $2 billion since Dec. 19, according to data compiled by Bloomberg.

Open interest — or outstanding contracts — for Bitcoin futures hosted by Chicago-based CME Group Inc., seen as a measure of US institutional demand, also fell nearly 20% from its December peak.

“The outflows and decreased open interest is expected with institutions paring back risk and window dressing for year-end balance sheet adjustments,” said Paul Howard, senior director at crypto market maker Wincent.

BlackRock didn’t immediately respond to a request for comment from Bloomberg News.

Bitcoin was trading at $96,421 at 8:26 a.m. on Friday in London, about 11% below its record high.

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