BlackRock’s iShares Bitcoin Trust Sees Record Bitcoin Outflows

BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest single-day outflow on January 2, signaling a volatile start to 2025 for crypto ETFs. A massive $332.62 million exited the fund that day, marking the highest outflow since its inception on January 11, 2024.

This surge in withdrawals extended IBIT’s outflow streak to three consecutive days, with a total of $392.6 million withdrawn. Despite the recent downturn, IBIT ended 2024 as one of the top three U.S. ETFs by inflows, attracting $37.2 billion, only behind Vanguard’s VOO ($116 billion) and iShares Core S&P 500 ETF ($89 billion).

Other Bitcoin ETFs experienced varied activity. Bitwise’s BITB saw $48.31 million in inflows, Fidelity’s FBTC added $36.2 million, and Ark 21Shares’s ARKB attracted $16.54 million. Grayscale’s GBTC, however, faced $23.13 million in outflows, while its Mini Trust recorded a modest inflow of $6.89 million.

Ethereum ETFs also experienced turbulence. The nine Ether ETFs collectively recorded $77.51 million in outflows on January 2. Bitwise’s ETHW led the trend with $56.11 million in outflows, followed by Grayscale’s ETHE with $21.4 million.

Meanwhile, Bitcoin’s price rose 2% in the last 24 hours, trading at $96,893, while Ether gained 1.7%, reaching $3,458.

Experts anticipate significant developments for crypto ETFs in 2025, including combined Bitcoin and Ethereum ETFs and options trading for spot Ether ETFs. These innovations may redefine market dynamics in the years to come.