On January 1, BlackRock’s IBIT experienced a record single-day discharge of $332 million. The US spot Bitcoin ETFs experienced an aggregate outflow of $650 million for the week.
According to updated data from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest single-day outflow of over $332 million on January 1, beating its previous record of $188 million set on December 24.
The aggregate flows of the US spot Bitcoin ETF were in negative territory on Thursday due to the substantial IBIT withdrawals, despite the fact that the majority of rival ETFs reported gains. There were also losses of roughly $7 million in the Grayscale Bitcoin Trust (GBTC).
Bitwise Bitcoin ETF (BITB) received the most daily inflows, totalling $48 million. Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin (ARKB), and Grayscale Bitcoin Mini Trust (BTC) followed in that order. On Thursday, these funds collectively generated approximately $108 million in revenue.
The 10 spot Bitcoin ETFs domiciled in the United States, with the exception of Valkyrie’s Bitcoin ETF, experienced a combined outflow of $248 million. The cumulative net outflows for the week have exceeded $650 million.
Since December 3, IBIT has experienced three consecutive trading days of losses, resulting in a total net discharge of $392 million. The fund continues to be the leading Bitcoin ETF, with a value of over $51 billion and a holding of nearly 552,000 BTC as of January 2, despite the recent outflows.
Launched in early 2024, IBIT outperformed the majority of ETFs for the duration of the year. With an estimated $37 billion in year-to-date flows, the fund was the third-ranked fund on Bloomberg ETF analyst Eric Balchunas’ 2024 leaderboard, trailing only the established index titans VOO and IVV.
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