PakGazette — BlackRock’s iShares Trust (NASDAQ:) saw its largest daily outflow since its launch a year ago, coinciding with the resumption of trading in the United States after the New Year’s Day holiday.
On January 2, BlackRock’s Bitcoin Spot ETF recorded an outflow of $332.6 million, according to data from Farside Investors. This surpassed the previous high of $188.7 million set on December 24.
The fund has seen capital outflows for three consecutive trading days, marking another record. Over the past week, total IBIT outflows reached $392.6 million.
Despite recent withdrawals, BlackRock’s Bitcoin ETF remains one of the best-performing funds in the US in terms of 2024 inflows.
Bloomberg data, shared by senior ETF analyst Eric Balchunas, shows that IBIT ranked third with $37.2 billion in inflows. The Vanguard ETF (NYSE 🙂 topped the list with $116 billion, followed by the iShares Core S&P 500 ETF (NYSE 🙂 with $89 billion.
While BlackRock’s Bitcoin ETF saw significant outflows, other spot Bitcoin ETFs, including Bitwise, Fidelity, and Ark 21Shares, saw inflows of $48.3 million, $36.2 million, and $16.5 million. of dollars, respectively.
Grayscale Bitcoin Mini Trust ETF (NYSE:) also saw a modest inflow of $6.9 million, although its larger fund Grayscale Bitcoin Trust (BTC) (NYSE:) saw an outflow of $23.1 million.
The day’s overall net outflow amounted to $242 million, driven largely by BlackRock’s withdrawals, which offset inflows from its competitors.
Meanwhile, US spot ETFs saw net outflows totaling $77.5 million on January 2, with the Bitwise Ethereum ETF (NYSE 🙂 accounting for the majority at $56.1 million. Grayscale Ethereum Trust ETF (NYSE:) also reported outflows of $21.4 million.
The combined trading volume of ether funds reached $397.2 million on Thursday, an increase from $313.1 million recorded on December 31. The funds’ cumulative net inflows have increased to $2.58 billion.
