BlackRock's Bitcoin ETF experiences its largest-ever single-day outflow amid continued Bitcoin fund outflows.
Record Outflows from Bitcoin ETF
BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded $188.7 million in outflows on Dec. 24, surpassing its previous record outflow day of $72.7 million. All 12 U.S.-based spot Bitcoin ETFs saw a total outflow of $338.4 million on Christmas Eve. Since Dec. 19, the funds reported net outflows of $1.52 billion.
Ethereum ETF Inflows Continue
Ethereum ETFs experienced two consecutive days of inflows, adding $53.6 million on Dec. 24, following a $130.8 million inflow on Dec. 23.
Ethereum Set to Perform BTC in January
Analysts anticipate that Ethereum might outperform Bitcoin in January 2025. Notably, on Dec. 16, total assets in US Bitcoin ETFs surpassed those of gold funds.
Despite the outflows, Bitcoin continues to trade above its August price, while Ethereum ETFs are gaining traction.
