Key takeaways
- BlackRock’s IBIT saw a record single-day outflow of $332 million on January 1st.
- U.S. spot Bitcoin ETFs collectively faced outflows of $650 million for the week.
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BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest single-day outflow of over $332 million on January 1, surpassing its previous record of $188 million set on December 24, according to updated data from Farside Investors.
Massive IBIT withdrawals pushed overall flows into U.S. spot Bitcoin ETFs into red territory on Thursday, even as most rival ETFs posted gains. The Grayscale Bitcoin Trust (GBTC) also recorded losses of almost $7 million.
Bitwise Bitcoin ETF (BITB) led daily inflows with $48 million, followed by Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin (ARKB), and Grayscale Bitcoin Mini Trust (BTC). Those funds collectively brought in about $108 million as of Thursday.
Excluding Valkyrie’s Bitcoin ETF, the 10 U.S.-based spot Bitcoin ETFs saw combined outflows of $248 million. Total net outflows for the week exceeded $650 million.
Total net outflows from IBIT reached $392 million since December 3, marking three consecutive trading days of losses. Despite recent capital outflows, the fund remains the dominant Bitcoin ETF, holding nearly 552,000 BTC valued at over $51 billion as of January 2.
Launched in early 2024, IBIT outperformed the vast majority of ETFs throughout the year. The fund ranked third in Bloomberg ETF analyst Eric Balchunas’ 2024 rankings with about $37 billion in year-to-date inflows, behind established index giants VOO and IVV.
Here is the final ranking of the Top 20 ETFs 2024: $VOO ended with $116 billion, $65 billion above the old (absurd) record. $IVV closed strong with $89 billion (British Columbia used over $SPY for TLH?). $IBIT took 3rd place with $37 billion (still <1 year!). Total flows at $1.14 billion, which broke the old record by 25%, or $225 billion..🔥🔥 pic.twitter.com/RRCbHEAN9Q
– Eric Balchunas (@EricBalchunas) January 2, 2025
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