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

BlackRock’s iShares Bitcoin Trust (IBIT) recorded its highest single-day outflow on Jan. 2, as the 12 Bitcoin exchange-traded funds collectively experienced $242.3 million in outflows when trading resumed in the U.S.

According to data from SoSoValue, BlackRock’s spot BTC ETF recorded $332.62 million in outflows on Thursday marking its largest-ever outflow day since its launch on Jan. 11, 2024.

The outflows seen by the BTC ETF extended their outflow streak to three consecutive days marking another record, which saw $392.6 million withdrawn from the fund.

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

While BlackRock’s IBIT fund experienced significant outflows, Bitwise’s BITB, Fidelity’s FBTC, and Ark 21Shares’s ARKB logged inflows on Jan. 2, attracting $48.31 million, $36.2 million, and $16.54 million, respectively.

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

The total daily trading volume for these investment products stood at $3.24 billion on Jan. 2, significantly higher than the $2.25 billion recorded the previous trading day. At press time, Bitcoin (BTC) was up 2% in the last 24 hours, exchanging hands at $96,893 when writing.

Ether ETFs flip to outflows

The nine spot Ether ETFs also recorded an outflow day on Dec. 2 as $77.51 million exited the funds. The outflows on the day came from Bitwise’s ETHW and Grayscale’s ETHE fund which recorded outflows of $56.11 million and $21.4 million respectively.

The remaining seven ETH ETFs remained still on the day.

Ethereum (ETH) was also up 1.7% over the past day trading at $3,458 per coin.

On Jan. 2, Nate Geraci, president of ETF Store, shared his predictions for crypto ETFs in 2025. He anticipated the introduction of combined spot BTC and ETH ETFs, the launch of options trading for spot ETH ETFs, and the implementation of in-kind creation and redemption mechanisms for both BTC and ETH spot ETFs.

Additionally, he forecasted the inclusion of staking features for spot Ether funds and the approval of a spot Solana (SOL) ETF. Geraci confidently stated, “Actually, these will all happen.”