BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest daily outflow since its launch, marking a significant development as U.S. trading resumed after the New Year’s Day holiday. On January 2, IBIT witnessed a record $332.6 million outflow, according to data from Farside Investors.
This surge in outflows surpasses the previous high of $188.7 million, which occurred on December 24, 2024.
This outflow also marked the third consecutive day of withdrawals from the Bitcoin investment product, setting yet another record. In total, IBIT has experienced $392.6 million in outflows over the past week alone.
Despite this setback, the BlackRock fund has seen impressive growth since its inception. In 2024, it was ranked third for ETF inflows in the U.S., with a total of $37.2 billion in investments, according to Bloomberg data shared by senior ETF analyst Eric Balchunas.
The Vanguard 500 Index Fund led the pack with $116 billion in inflows, while the iShares Core S&P 500 ETF followed with $89 billion. This strong performance indicates that the recent outflows may simply represent a short-term fluctuation. Bitcoin pioneer Adam Back remarked that 2025 could see Bitcoin ETFs take the top spot, driven by higher inflows and rising prices.
While BlackRock’s Bitcoin ETF faced record outflows, other Bitcoin-related funds showed a contrasting trend. Bitwise, Fidelity, and Ark 21Shares saw inflows of $48.3 million, $36.2 million, and $16.5 million, respectively, on January 2.
Grayscale’s Bitcoin Mini Trust also experienced a small inflow of $6.9 million, although its larger GBTC fund saw a $23.1 million outflow. In total, the cryptocurrency market saw $242 million in outflows for the day, as BlackRock’s losses outweighed the gains of its competitors.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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