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BlackRock Bitcoin ETF Records a Record Outflow of $332.6 Million in One Day. Will It Shake Up the Crypto Market?

BlackRock’s iShares Bitcoin Trust (IBIT) reported its largest daily outflow since its inception, following the reopening of U.S. markets after the New Year’s closure. The BlackRock Bitcoin ETF, which tracks the spot price of BTC, saw a record outflow of $332.6 million on January 2, according to data from Farside Investors. This is the largest withdrawal since the product’s launch in January 2024, surpassing the previous record of $188.7 million on December 24. This also marked the third consecutive trading day of outflows for the Bitcoin investment product, setting another record. Over the past week, IBIT has experienced outflows totaling $392.6 million.

Despite these withdrawals, the outflows may be viewed as a short-term deviation since BlackRock’s ETF ranked third in incoming funds among all ETFs in the U.S. in 2024, with $37.2 billion, according to Bloomberg data shared by senior ETF analyst Eric Balchunas. The largest ETF for the year was the Vanguard 500 Index Fund with $116 billion in incoming funds, followed by the iShares Core S&P 500 ETF with $89 billion.

“Thus, Bitcoin ETFs may take the lead in 2025 with more incoming funds and higher prices,” said Bitcoin pioneer Adam Back.

What’s Next for BTC: Opportunity for Reversal or Deep Correction?

In contrast to the outflows in BlackRock’s spot Bitcoin ETF on January 2, other funds such as Bitwise, Fidelity, and Ark 21Shares reported inflows of $48.3 million, $36.2 million, and $16.5 million, respectively. Grayscale’s Bitcoin Mini Trust also saw a small inflow of $6.9 million, while its larger fund, GBTC, experienced an outflow of $23.1 million. The total outflow for the day was $242 million, with BlackRock’s outflows compensating for the inflows of its competitors.

On January 2, Nate Geraci, president of ETF Store, made several predictions for crypto ETFs in 2025. These predictions include the launch of combined BTC and Ether spot ETFs, options trading for spot ETH ETFs, and the approval of a spot Solana ETF. “In fact, all of these will happen,” he said.

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