Bitcoin ETFs See $105M Outflows as Mystery IBIT Buyer Emerges

US spot Bitcoin ETFs saw $104.9M in outflows as a Hong Kong firm disclosed a $436.2M IBIT purchase in Q4 filings.

US spot Bitcoin exchange-traded funds recorded $104.9 million in net outflows on Tuesday, even as new regulatory filings revealed a large and previously unknown buyer of BlackRock’s iShares Bitcoin Trust (IBIT).

Spot Bitcoin ETFs Record Fresh Outflows

Data from SoSoValue shows that US spot Bitcoin ETFs logged nearly $105 million in net outflows during the first trading session of the week.

The withdrawals extended a recent trend of slowing capital movement across crypto-linked funds.

Total trading volume in spot Bitcoin ETFs dropped to just over $3 billion. That figure marked a steep decline from the $14.7 billion record set on Feb. 5.

The contraction in volume reflects lower market activity and reduced investor turnover.

Bitcoin traded near $66,712 during the session. ETF flows and trading activity continue to be monitored closely as institutional investors adjust positions ahead of new quarterly disclosures.

Mystery Hong Kong Buyer Acquires $436M in IBIT

Fourth-quarter 2025 filings revealed that a Hong Kong-based entity named Laurore purchased $436.2 million worth of IBIT shares.

The acquisition was disclosed in a filing with the US Securities and Exchange Commission.

The company has limited public information available. According to industry observers, the filing lists a representative named Zhang Hui, though no additional corporate details were provided.

Bitwise Investments adviser Jeff Park commented on the purchase, stating that Laurore has “no public footprint — no website or press.” He noted that the name listed in the filing is common in China.

Some market participants have questioned whether the purchase may reflect institutional Chinese capital entering Bitcoin exposure through regulated US products.

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Institutional Rebalancing in Q4 2025

Other institutional investors also adjusted IBIT holdings during the fourth quarter.

Jane Street acquired approximately $276 million worth of IBIT, making it one of the largest buyers in the period.

Weiss Asset Management added about 2.8 million shares, valued at roughly $107.5 million.

Meanwhile, 59 North Capital increased its position by 2.6 million shares, totaling nearly $99.8 million.

Mubadala Investment raised its IBIT holdings by 45%, bringing its stake to about $630.7 million.

At the same time, several firms reduced exposure. Brevan Howard cut its IBIT position by around 85%, lowering holdings from $2.4 billion in the previous quarter to about $273.5 million.

Goldman Sachs also reduced its IBIT allocation by roughly 40%, though it continues to hold close to $1 billion in assets.

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