Key Takeaways
BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest single-day outflow on record, with over $332 million withdrawn on January 1. This surpasses the previous record of $188 million set on December 24, according to data from Farside Investors.
The significant withdrawals from IBIT caused US spot Bitcoin ETFs to have an overall outflow on Thursday, even as most rival ETFs saw gains. The Grayscale Bitcoin Trust (GBTC) also suffered losses of nearly $7 million.
In terms of inflows, the Bitwise Bitcoin ETF (BITB) led the way with $48 million, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin (ARKB), and Grayscale Bitcoin Mini Trust (BTC). These funds collectively attracted approximately $108 million on Thursday.
Excluding Valkyrie’s Bitcoin ETF, the 10 US-based spot Bitcoin ETFs recorded combined outflows of $248 million. The total net outflows for the week have exceeded $650 million.
Since December 3, IBIT has seen total net outflows of $392 million, marking three consecutive trading days of losses. Despite these recent outflows, the fund remains the dominant Bitcoin ETF, holding nearly 552,000 BTC valued at over $51 billion as of January 2.
Launched in early 2024, IBIT has outperformed the majority of ETFs throughout the year. It ranked third on Bloomberg ETF analyst Eric Balchunas’ 2024 leaderboard, with approximately $37 billion in year-to-date flows, trailing only the established index giants VOO and IVV.
Here’s the final 2024 Top 20 ETF Leaderboard tweeted by Eric Balchunas: $VOO ended with $116 billion, which is $65 billion higher than the previous record. $IVV closed strong with $89 billion. $IBIT secured the third spot with $37 billion, despite being less than a year old. The total flows reached $1.14 trillion, breaking the old record by 25%, or $225 billion. pic.twitter.com/RRCbHEAN9Q
