BlackRock's crypto ETFs showed radically different behavior on Christmas
During the Christmas trading day, investors in BlackRock's spot BTC and ETH crypto ETFs exhibited radically different behaviors. While the former showed a trend of fear and liquidations, the latter had greater confidence. This was the exact opposite of what occurred in previous crypto market crises.
According to data from Farside Investors, the Bitcoin-based exchange-traded fund, IBIT, set a new record for outflows in a single day. In that sense, on Tuesday, they saw a withdrawal of $188.7 million. This represents a significant worsening compared to the worst day it had until now (last Friday with $72.7 million).
Meanwhile, the ETHA Ethereum fund from the same financial firm had a completely different performance. Although it did not have the best day, it at least recorded significant positive flows of $43.9 million on Tuesday, according to the same portal. The worst liquidation day for this fund was Friday, December 20, with $107 million in outflows.
