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the $BTC ETF extended their outflow streak to three consecutive days marking another record, which saw $392.6 million withdrawn from the fund.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