BlackRock’s iShares Bitcoin Trust (IBIT) has just recorded its largest outflow since it launched a year ago — as United States trading resumed on Jan. 2
BlackRock’s spot Bitcoin exchange-traded fund saw a record outflow of $330.8 million, or more than 3,500 Bitcoin (BTC), on Jan. 2, according to the CEO of crypto-focused reviews portal Apollo, Thomas Fahrer.
It is the largest ever outflow since the product launched in January 2024, eclipsing the previous record of $188.7 million on Dec. 24, according to Farside Investors.
The move follows a market closure on New Year’s Day but marks the third consecutive trading day of outflows for the BTC investment product, which is another record. Over the past week, BlackRock’s iShares Bitcoin Trust has seen $391 million in outflows.
BlackRock ETF outflows accelerate. Source: Thomas Fahrer
The latest outflows could be seen as just a blip as BlackRock fund ranked third for inflows among all exchange-traded funds in the United States in 2024 with $37.2 billion, according to data from Bloomberg shared by senior ETF analyst Eric Balchunas.
The leading ETF was the Vanguard 500 Index Fund (VOO), with $116 billion in inflows for the year, while the iShares Core S&P 500 ETF (IVV) closed second with $89 billion in inflows.
“So maybe in 2025, Bitcoin ETFs take top spot via more inflows and higher prices,” commented Bitcoin pioneer Adam Back.
Top US ETFs in 2024 by inflows. Source: Eric Balchunas
Bucking BlackRock’s outflow trend was Bitwise, Fidelity, and Ark 21Shares, which saw fund inflows of $48.3 million, $36.2 million, and $16.5 million on Jan. 2, respectively. Grayscale’s Bitcoin Mini Trust also saw a minor inflow of $6.9 million but its larger GBTC fund outflowed $23 million.
On Jan. 2, ETF Store president Nate Geraci made a few predictions for crypto ETFs in 2025.
These included the launch of combined spot BTC and Ether (ETH) ETFs, spot ETH ETF options trading, spot BTC and ETH ETFs with in-kind creation and redemption, staking for spot Ether funds and the approval of a spot Solana (SOL) ETF. “Actually, these all will happen,” he said.
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