BlackRock’s iShares Bitcoin Trust (IBIT) saw its largest daily outflow since launching a year ago. After the New Year holiday, trading resumed in the U.S., and on January 2, IBIT experienced a record outflow of $332.6 million, according to data from Farside Investors.

This outflow marks the highest amount since the product’s launch in January 2024, surpassing the previous record of $188.7 million set on December 24. Additionally, it highlights a new record of three consecutive trading days of outflows for this BTC investment product. Over the past week, IBIT has seen a total outflow of $392.6 million.

BlackRock ETF Outflows Accelerate

The latest outflows can be seen as a minor fluctuation in the broader picture. According to Bloomberg data shared by senior ETF analyst Eric Balchunas, BlackRock’s fund ranked third among all exchange-traded funds in the United States in 2024, with inflows totaling $37.2 billion.

The leading ETF for the year was Vanguard 500 Index Fund, with inflows of $116 billion, while iShares Core S&P 500 ETF came in second with $89 billion in inflows.

Bitcoin pioneer Adam Back commented, “Maybe in 2025, Bitcoin ETFs will take the top spot with more inflows and higher prices.”

Top ETFs in the U.S. by Inflows in 2024

On January 2, despite the outflow trend from BlackRock’s spot Bitcoin ETF, Bitwise, Fidelity, and Ark 21Shares saw 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 GBTC fund experienced an outflow of $23.1 million.

The total net outflow for the day came to $242 million, as BlackRock’s outflows offset the inflows of its competitors.

On the same day, ETF Store President Nate Geraci shared some predictions for crypto ETFs in 2025.

These include the merging of spot Bitcoin and Ether ETFs, the trading of spot ETH ETF options, in-kind creation and redemption options for spot BTC and ETH ETFs, staking for spot Ether funds, and the approval of a spot Solana ETF.

Geraci commented, “Actually, all of these will happen.”

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Record-Breaking Inflows for Major ETFs

Farside Investors data indicates BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) lead the inflows with $120 million and $115.1 million respectively. With $28.4 million the Bitwise Bitcoin ETF trailed; the Grayscale Bitcoin Trust (GBTC) had a rare inflow day of $23 million. Furthermore mentioned were inflows of $6 million and $4 million respectively from the VanEck Bitcoin Trust ETF and Invesco Galaxy Bitcoin ETF.

Weekly Performance and Market Impact

With spot Bitcoin ETF issuers registering $488.1 million, the total inflows on July 12 amounted to the highest flow day since June 5. For the spot Bitcoin ETFs, this fresh flood drove the weekly total to $1.04 billion. These ETFs have attracted $15.8 billion in net inflows since their introduction just over six months ago. This number includes almost $18.6 billion in withdrawals from Grayscale’s flagship Bitcoin product, which was spot form converted after US Securities and Exchange Commission (SEC) permission in January. Though it is somewhat little at $2 million, the only other spot Bitcoin ETF with a net outflow is the Hashdex Bitcoin ETF (DEFI).

Market Sentiment and Future Prospects

Based on CoinGecko statistics, Bitcoin’s price has witnessed a 1.1% rise over the last 24 hours and now trades at $57,8ishi. Still, it is down around 15% over the last month and is over 21% away from its all-time high.

Meanwhile, several of these Bitcoin ETF issuers are getting ready to introduce spot Ether ETFs, which may open as early as next week, said Nate Geraci, President of The ETF Store. These issuers submitted revised S-1 registration statements and got early comments late last month; final approval from the SEC is still pending.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Friday saw an additional $63 million added, according to Farside’s count.

For individuals seeking to invest in bitcoin without actually buying the cryptocurrency, the Grayscale product has long been the go-to traditional investment vehicle. However, nine competing spot bitcoin ETFs entered trading in January, along with its conversion to an easier-to-trade ETF.

Due to its much-increased fees, GBTC saw its investors withdraw billions of dollars. Data obtained by CoinDesk shows that the fund’s bitcoin holdings have decreased from over 600,000 bitcoin to approximately 290,000 bitcoin.

Even if the net GBTC withdrawals streak ended on Friday, the fund is still competing with BlackRock’s iShares Bitcoin Trust (IBIT) for the title of largest bitcoin ETF. GBTC’s assets currently stand at $18.1 billion, while IBIT’s are $16.9 billion. GBTC began the month with over $26 billion, whereas IBIT, which is presently in second place, began with $0.

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