BlackRock’s Bitcoin ETF sees record outflow as funds bleed $1.5B in 4 days

BlackRock’s Bitcoin exchange-traded fund (ETF) has seen its largest-ever single-day outflow as Bitcoin funds notch a fourth straight trading day of outflows now totaling over $1.5 billion.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) hit $188.7 million in outflows on Dec. 24, beating its previous record outflow day of $72.7 million set just days earlier on Dec. 20, per CoinGlass data.

All 12 United States-based spot Bitcoin (BTC) ETFs saw joint total outflows hit $338.4 million on Christmas Eve. Since Dec. 19, the funds have seen joint net outflows of $1.52 billion.

Ether ETF inflows continue

The Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) also saw respective Dec. 24 outflows of $83.2 million and $75 million, while the Bitwise Bitcoin ETF (BITB) was the only one to see an inflow, which hit $8.5 million.

Meanwhile, Ether ETFs have experienced two consecutive days of inflows in the lead-up to Christmas.

US spot Ether (ETH) ETFs continued their momentum with a second day of inflows on Dec. 24, adding $53.6 million after a $130.8 million inflow on Dec. 23. 

Launched in July, the Ether funds had a slow start compared to the strong early momentum that spot Bitcoin ETFs saw after their January launch.

However, since late November, the Ether ETFs have gained traction, having seen an 18-day inflow streak that was cut on Dec. 18.

Ether set to perform BTC in January

Bitcoin is trading at $98,035, up 4.59% in the last 24 hours, while Ether is trading at $3,420, up 3.28% over the same time, according to CoinMarketCap data.

TradingView shows Ether’s relative strength to Bitcoin — the ETH/BTC ratio — is currently at 0.035. Some analysts believe that ETH may outperform Bitcoin in January 2025.

Related: BTC price stampedes to $99.5K hours after record Bitcoin ETF outflow

Meanwhile, net assets in US Bitcoin ETFs surpassed gold funds for the first time on Dec. 16, according to K33 Research.

On Dec. 16, the US Bitcoin funds collectively broke $129 billion in assets under management (AUM), surpassing US gold ETFs, which held just shy of that figure, according to K33 Research’s head of research, Vetle Lund.

The AUM figure includes spot BTC ETFs as well as ETFs that track Bitcoin’s performance using financial derivatives, such as futures, said Bloomberg ETF analyst Eric Balchunas.

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