BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) recorded its largest daily outflow since its launch a year ago, coinciding with the resumption of U.S. trading following the New Year’s Day holiday.
On January 2, the spot Bitcoin ETF saw an outflow of $332.6 million, surpassing the previous record of $188.7 million set on December 24, according to data from Farside Investors. This marked the third consecutive trading day of outflows, setting another record. Over the past week, IBIT’s total outflows have reached $392.6 million.
Despite these recent withdrawals, BlackRock’s Bitcoin ETF remains one of the top-performing funds in the U.S. for 2024 in terms of inflows. Data from Bloomberg, shared by senior ETF analyst Eric Balchunas, reveals that IBIT ranked third with $37.2 billion in inflows. The Vanguard S&P 500 ETF (NYSE: VOO) led the list with $116 billion, followed by the iShares Core S&P 500 ETF (NYSE: IVV) at $89 billion.
While BlackRock’s Bitcoin ETF faced substantial outflows, other spot Bitcoin ETFs, including those from Bitwise, Fidelity, and Ark 21Shares, reported inflows of $48.3 million, $36.2 million, and $16.5 million, respectively. The Grayscale Bitcoin Mini Trust ETF (NYSE: BTC) also posted a modest inflow of $6.9 million, although its larger counterpart, the Grayscale Bitcoin Trust (NYSE: GBTC), experienced a $23.1 million outflow.
The overall net outflow for spot Bitcoin ETFs on January 2 stood at $242 million, primarily driven by BlackRock’s withdrawals, which overshadowed inflows from its competitors.
In contrast, U.S. spot Ethereum ETFs collectively recorded net outflows of $77.5 million on the same day. The Bitwise Ethereum ETF (NYSE: ETHW) accounted for the majority with $56.1 million in outflows, while the Grayscale Ethereum Trust ETF (NYSE: ETHE) saw $21.4 million in withdrawals.
The combined trading volume for Ether funds rose to $397.2 million on Thursday, up from $313.1 million on December 31. Total cumulative net inflows for the funds have now reached $2.58 billion.
