BlackRock’s IBIT bleeds $332m in record daily outflow from the BTC ETF

BlackRock’s iShares Bitcoin Trust (IBIT) recorded its highest single-day breakout on January 2; When trading resumed in the US, 12 Bitcoin exchange-traded funds experienced a collective outflow of $242.3 million.

BlackRock’s spot BTC ETF recorded an outflow of $332.62 million on Thursday, its biggest day ever since its launch on Jan. 11, 2024, according to data from SoSoValue.

The outflows seen by the BTC ETF broke another record by extending the outflow streak to three consecutive days, and $392.6 million was withdrawn from the fund.

The recent outflows could be viewed as a temporary blip, as BlackRock’s IBIT ranks third among all U.S. ETFs with $37.2 billion in 2024. This trails the Vanguard 500 Index Fund (VOO), which recorded $116 billion, and the iShares Core S&P 500 ETF (IVV), which recorded $89 billion, according to a Jan. 2 post by Bloomberg analyst Eric Balchunas.

While BlackRock’s IBIT fund experienced significant outflows, Bitwise’s BITB, Fidelity’s FBTC, and Ark 21Shares’ ARKB were $48.31 million, $36.2 million, and $16.54 million, respectively, on January 2. recorded million dollar entry.

Additionally, Grayscale’s Bitcoin Mini Trust and VanEck’s HODL recorded modest inflows of $6.89 million and $5.51 million, respectively, while Grayscale’s larger GBTC fund saw an outflow of $23.13 million.

The total daily trading volume of these investment products amounted to $3.24 billion on January 2; This was significantly higher than the $2.25 billion recorded on the previous trading day. At the time of writing, Bitcoin (BTC) is up 2% in the last 24 hours and changed hands at $96,893 at the time of writing.

Ether ETFs heading for outflows

Nine spot Ether ETFs also recorded a day of outflows of $77.51 million from funds on December 2. Outflows on the day came from Bitwise’s ETHW and Grayscale’s ETHE fund, recording outflows of $56.11 million and $21.4 million respectively.

The remaining seven ETH ETFs remained inactive on the day.

Ethereum (ETH) also traded at $3,458 per cryptocurrency, up 1.7% in the past day.

ETF Store president Nate Geraci shared his predictions for crypto ETFs in 2025 on January 2. It envisioned the launch of combined spot BTC and ETH ETFs, the launch of options trading for spot ETH ETFs, and the implementation of: Type creation and redemption mechanisms for both BTC and ETH spot ETFs.

Additionally, he predicted that staking features for spot Ether funds will be included and the spot Solana (SOL) ETF will be approved. “Actually, all of this will happen,” Geraci said confidently.