{"id":31086,"date":"2024-12-25T11:09:43","date_gmt":"2024-12-25T11:09:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31086"},"modified":"2024-12-25T11:09:43","modified_gmt":"2024-12-25T11:09:43","slug":"blackrocks-bitcoin-etf-sees-record-outflow-amid-1-5-billion-four-day-crypto-fund-exodus","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31086","title":{"rendered":"BlackRock\u2019s Bitcoin ETF Sees Record Outflow Amid $1.5 Billion Four-Day Crypto Fund Exodus"},"content":{"rendered":"

BlackRock\u2019s Bitcoin exchange-traded fund (ETF) has recorded its largest-ever single-day outflow, reflecting a broader trend of significant withdrawals from Bitcoin funds. <\/span><\/p>\n

The<\/span> iShares Bitcoin Trust ETF (IBIT) saw outflows of $188.7 million on 24 <\/span>December 2024<\/span>, surpassing its previous high of $72.7 million just days earlier<\/span>, according to <\/span>CoinGlass data<\/span><\/a>.<\/span><\/p>\n

The outflows are part of a <\/span>larger<\/span> wave of withdrawals that have swept across US-based spot Bitcoin ETFs. Collectively, these funds experienced outflows totaling $338.4 million on Christmas Eve alone, with net outflows reaching $1.52 billion over four consecutive trading days.<\/span><\/p>\n

EXPLORE: <\/span>What are Bitcoin ETFs? A Beginner\u2019s Guide (Updated 2024)<\/span><\/a><\/strong><\/p>\n

More ETF Funds See Outflows<\/span><\/h2>\n

Among other Bitcoin ETFs, the Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF reported significant outflows of $83.2 million and $75 million<\/span>, respectively,<\/span> on <\/span>December 24<\/span>.<\/span> Bitwise Bitcoin ETF, however, bucked the trend with a modest inflow of $8.5 million.<\/span><\/p>\n

While Bitcoin funds faced a challenging period, Ether-focused ETFs have seen contrasting momentum. U.S. spot Ether ETFs recorded inflows for two consecutive days leading up to Christmas, with $53.6 million added on <\/span>December 24<\/span> following a $130.8 million inflow the previous day. <\/span><\/p>\n

Ether ETFs, launched earlier this year, initially lagged behind Bitcoin ETFs but have gained traction since late November, breaking an 18-day inflow streak on <\/span>December 18<\/span>.<\/span><\/p>\n

Good morning,<\/p>\n

Yesterday’s Bitcoin ETF flows were negative for $338.4 million.<\/p>\n

Blackrock had its biggest outflow with $188.7 million, Fidelity did $83.2 million and Ark $75 million.<\/p>\n

Price recovered from $94k to $99k. Not much to add.
Merry Christmas.<\/p>\n

source: @FarsideUK<\/a> pic.twitter.com\/fQyoZrtihx<\/a><\/p>\n

\u2014 WhalePanda (@WhalePanda) December 25, 2024<\/a><\/p>\n\n

As<\/span> of <\/span>December 24<\/span>, Bitcoin was trading at $98,035, reflecting a 4.59% increase in 24 hours, while Ether rose 3.28% to <\/span>$3,420, according to CoinMarketCap<\/span>.<\/span><\/p>\n

Analysts note that Ether\u2019s relative strength against Bitcoin, represented by the ETH\/BTC ratio at 0.035, could signal <\/span>a potential outperformance by ETH<\/span> in early 2025.<\/span><\/p>\n

In a broader context, Bitcoin ETFs recently surpassed gold funds in net assets under management (AUM) for the first time. As of <\/span>December 16<\/span>, U.S. Bitcoin funds reached $129 billion in AUM, edging past gold ETFs, according to K33 Research. <\/span><\/p>\n

EXPLORE: <\/span>3 Experts Predict: How High Can Bitcoin Go In 2025?<\/span><\/a><\/strong><\/p>\n

Digital Asset Investment Products Show Resilience<\/span><\/h2>\n

Digital asset investment products saw inflows of $308 million last <\/span>week<\/span>,<\/span> despite significant volatility. The largest single-day outflow <\/span>of $576<\/span> million occurred on <\/span>December 19th<\/span>, contributing to a total of $1 billion in outflows during the last two days of the week.<\/span><\/p>\n

These movements <\/span>were influenced<\/span> by the FOMC\u2019s hawkish dot plot, which triggered market corrections and reduced total assets under management (AuM) for digital asset ETPs by $17.7 billion, according to a <\/span>report by CoinShares<\/span><\/a>. <\/span><\/p>\n

However, the $1 billion outflow represented only 0.37% of total AuM, making it the 13th largest single-day outflow on record<\/span>, <\/span>far less significant than the mid-2022 outflow of 2.3% of AuM.<\/span><\/p>\n

Bitcoin displayed notable resilience, ending the week with net inflows of $375 million despite mid-week outflows. Interestingly, there was minimal activity from short-bitcoin investors. <\/span><\/p>\n

Multi-asset investment products experienced the most dramatic shifts, with $121 million in outflows, as investors appeared to favor selective investments in altcoins like XRP ($8.8 million), Horizen ($4.8 million), and Polkadot ($1.9 million).<\/span><\/p>\n

Ethereum attracted $51 million in inflows last week, demonstrating steady investor interest, while Solana faced $8.7 million in outflows. <\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best Bitcoin Mining Pools in 2024<\/span><\/a><\/strong><\/p>\n

The post BlackRock\u2019s Bitcoin ETF Sees Record Outflow Amid $1.5 Billion Four-Day Crypto Fund Exodus<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

BlackRock\u2019s Bitcoin exchange-traded fund (ETF) has recorded its largest-ever single-day outflow, reflecting a broader trend of significant withdrawals from Bitcoin funds. The iShares Bitcoin Trust ETF (IBIT) saw outflows of $188.7 million on 24 December 2024, surpassing its previous high of $72.7 million just days earlier, according to CoinGlass data. The outflows are part of […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31086","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31086"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31086"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31086\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}