Key Points
- BlackRock’s Bitcoin ETF (IBIT) experienced its largest single-day outflow of $188.7 million on December 24, contributing to a broader $1.5 billion exodus from U.S. Bitcoin funds over four trading days.
- While Bitcoin ETFs face significant outflows, Ether ETFs show growing momentum with consecutive days of inflows, accumulating $184.4 million across December 23-24.
Record Outflows Hit Bitcoin ETF Market
The cryptocurrency ETF landscape witnessed a significant shift as BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded its largest-ever single-day outflow of $188.7 million on Christmas Eve. This notably surpassed its previous record of $72.7 million set just days earlier on December 20. The trend wasn’t isolated to BlackRock, as all 12 U.S.-based spot Bitcoin ETFs collectively experienced outflows totaling $338.4 million on December 24, contributing to a cumulative $1.52 billion withdrawal since December 19.
Major Players Face Mixed Results
Other significant players in the Bitcoin ETF market also faced substantial withdrawals, with Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF reporting outflows of $83.2 million and $75 million respectively on December 24. However, amid the broader market exodus, the Bitwise Bitcoin ETF emerged as an exception, securing a modest inflow of $8.5 million.
Ethereum ETFs Show Promising Growth
In contrast to the Bitcoin ETF market’s downturn, Ethereum-based funds displayed remarkable resilience and growth. U.S. spot Ether ETFs maintained positive momentum through the holiday period, attracting $53.6 million in inflows on December 24, following an even more substantial inflow of $130.8 million the previous day. This divergence in investor behavior between Bitcoin and Ethereum ETFs suggests a potential shift in market sentiment and investment strategies within the cryptocurrency ETF sector.
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