Bitcoin ETFs Record A Record Outflow Of $1.5 Billion.

The BlackRock Bitcoin ETF is going through a tumultuous period marked by unprecedented capital outflows. The asset management giant recorded its largest daily outflow on December 24, in a downward trend that has seen U.S. Bitcoin ETFs collectively lose more than $1.5 billion in just four days.

A record outflow for Bitcoin ETFs

On Christmas Eve, BlackRock’s iShares Bitcoin Trust (IBIT) recorded a record outflow of $188.7 million, according to CoinGlass data. This figure greatly exceeds the previous record of $72.7 million set a few days earlier.

This black day was accompanied by significant withdrawals from other major managers, including Fidelity with $83.2 million and ARK 21Shares with $75 million in outflows.

Only Bitwise managed to maintain a positive flow with a modest inflow of $8.5 million. In total, the twelve U.S. spot Bitcoin ETFs saw $338.4 million evaporate on just December 24.

These movements occur in a broader context of investor withdrawal, with accumulated net outflows reaching $1.52 billion since December 19. This trend starkly contrasts with the initial enthusiasm that accompanied the launch of these products last January.

Ethereum ETFs resist the trend

While Bitcoin faces selling pressures, Ethereum ETFs demonstrate remarkable resilience. Ether-based funds recorded two consecutive days of positive inflows, with $53.6 million on December 24, following an injection of $130.8 million the night before. This performance is even more striking given that these products, launched in July, had a relatively modest start compared to their Bitcoin counterparts.

The positive dynamics of Ethereum ETFs are accompanied by a progression in Ether’s price, which is now trading around $3,490, while Bitcoin maintains its position around $98,000. Some analysts even anticipate better performance from Ether compared to Bitcoin for January 2025, with an ETH/BTC ratio currently stable at 0.035.

Despite these turbulences, U.S. Bitcoin ETFs maintain their dominant market position, surpassing gold ETFs for the first time in terms of assets under management on December 16, with over $129 billion in assets. This historic achievement underscores the growing maturity of the crypto market, even in the face of increased volatility periods.