Bitcoin investors have withdrawn a staggering $331 million from BlackRock’s iShares Bitcoin Trust (IBIT), marking the largest outflow since the ETF’s inception in January 2024. This mass withdrawal, which occurred on January 2nd as U.S. trading resumed, follows a record of three consecutive trading days of outflows, totaling $391 million over the past week.
The pullback involved about 3,500 Bitcoin and far surpassed the previous record of a $188.7 million outflow on December 24. Despite this setback, BlackRock’s fund had accumulated $37.2 billion in inflows throughout 2024, ranking third among exchange-traded funds in the U.S. The Vanguard 500 Index Fund and the iShares Core S&P 500 ETF led the year with $116 billion and $89 billion in inflows, respectively.
However, not all Bitcoin ETFs experienced similar outflows. Bitwise, Fidelity, and Ark 21Shares reported inflows of $48.3 million, $36.2 million, and $16.5 million, respectively, on the same day. Additionally, while Grayscale’s Bitcoin Mini Trust saw a slight inflow of $6.9 million, its larger GBTC fund witnessed an outflow of $23 million.
Looking ahead, ETF Store President Nate Geraci has predicted the potential launch of combined spot BTC and Ether ETFs, as well as spot ETFs for other cryptocurrencies, such as Solana, by 2025. These developments are anticipated to spur renewed interest and investment in cryptocurrency ETFs.
