The Bitcoin ETF run by BlackRock experiences a record outflow of $1.5B within a 4 day period

During a four-trading-day outflow sequence from US Bitcoin funds, BlackRock’s Bitcoin ETF experienced a record outflow on Christmas Eve.

BlackRock’s Bitcoin exchange-traded fund (ETF) experienced its largest-ever single-day outflow, as Bitcoin funds recorded a fourth consecutive trading day of outflows totalling over $1.5 billion.

The combined total outflows of all 12 spot Bitcoin ETFs based in the United States reached $338.4 million on Christmas Eve. The funds have experienced a combined net outflow of $1.52 billion since December 19.

The Bitwise Bitcoin ETF was the sole fund to experience an inflow, with a total of $8.5 million, while the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF experienced outflows of $83.2 million and $75 million, respectively, on December 24.

In the interim, Ether ETFs experienced inflows on two consecutive days in the lead-up to Christmas. On December 24, US spot Ether ETFs maintained their momentum with a second day of inflows, accumulating $53.6 million following a $130.8 million inflow on December 23.

The Ether funds, which were introduced in July, experienced a slow start in comparison to the robust early momentum that spot Bitcoin ETFs experienced following their January debut.

Nevertheless, the Ether ETFs have experienced a significant increase in popularity since late November, with an 18-day inflow streak that peaked on December 18.

At the time of writing, CoinMarketCap data indicated that Bitcoin was trading at $98,035, representing a 4.59% increase in the past 24 hours, and Ether was trading at $3,420, representing a 3.28% increase in the same period.

According to TradingView, the ETH/BTC ratio, which indicates the relative strength of Ether in relation to Bitcoin, is presently at 0.035. According to certain analysts, Ethereum may surpass Bitcoin in January 2025.

On December 16, K33 Research reported that the net assets of US Bitcoin ETFs surpassed those of gold funds for the first time.

According to Vetle Lund, the director of research at K33 Research, the US Bitcoin funds collectively surpassed $129 billion in assets under management (AUM) on Dec. 16. This figure was just short of that of US gold ETFs.

Eric Balchunas, a Bloomberg ETF analyst, stated that the AUM figure encompasses spot BTC ETFs and ETFs that monitor Bitcoin’s performance through financial derivatives, such as futures.

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