BlackRock’s Bitcoin exchange-traded fund (ETF) recently witnessed its largest single-day outflow ever, along with three other straight trading days of outflows amounting to over $1.5 billion. On December 24th, BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded $188.7 million in outflows, breaking its previous record set just days before on December 20th when it experienced $72.7 million in outflows.
All twelve U.S.-based spot Bitcoin ETFs saw joint total outflows of $338.4 million on Christmas Eve, resulting in a combined net outflow of $1.52 billion since December 19th. Despite this, Ether ETFs have been experiencing inflows recently, particularly on December 23rd and 24th when they added $130.8 million and $53.6 million respectively after experiencing an 18-day inflow streak that ended on December 18th.
Some analysts believe that ETH could potentially outperform BTC in January 2025 based on its current relative strength index against Bitcoin. Overall, these trends indicate fluctuations within the cryptocurrency market but also showcase increasing interest from institutional investors towards digital assets like Bitcoin and Ethereum.
Reported by cointelegraph.com
