BlackRock’s Bitcoin ETF Suffers Largest Single-Day Outflow of $333 Million

Blackrock’s iShares Bitcoin Trust (IBIT) spot Bitcoin exchange-traded fund (ETF) just suffered its most significant single-day outflow.

On Jan. 2, the Nasdaq-listed ETF recorded approximately $333 million in net outflows, marking the third consecutive day of withdrawals and the largest since its launch one year ago, according to SoSoValue data. These outflows surpassed the previous record of $189 million on December 23, 2024, bringing iBIT's cumulative net inflows to around $37 billion and its total net assets to $53 billion.

These withdrawals come as Bitcoin (BTC) has been hovering around the $100,000 mark for the past month. Currently, BTC is trading at $98,300, a 1.7% increase in the last 24 hours and a 4.5% rise over the past week, according to CoinGecko.

Experts believe that several factors are driving BTC spot ETF outflows, including an uncertain regulatory environment and the Federal Reserve’s recent hawkish stance, both of which triggered a shift in investor confidence within the broader cryptocurrency market.

“The primary catalyst in the recent wave of crypto ETF outflows was the decidedly hawkish shift in Federal Reserve policy, which caused sharp corrections in both financial markets and institutional sentiment,” Todd Ruoff, CEO of Autonomys, told The Defiant on Dec. 20. “Despite a 0.25% rate cut, Fed Chair Jerome Powell’s cautious future outlook and ongoing inflation concerns sparked broad market sell-offs.”

BTC Spot ETF Outflows and Inflows

Overall, BTC spot ETFs experienced approximately $242 million in net outflows on Jan. 2, a reversal from the $5.3 million in inflows recorded on Dec. 31, 2024. IBIT led the pack in withdrawals, with Grayscale’s Bitcoin Trust fund (GBTC) following behind with $23 million in outflows.

Despite these withdrawals, several other funds recorded inflows, with Bitwise’s Bitcoin ETF (BITB) bringing in the most at $48 million. Fidelity’s FBTC, along with ARK and 21Shares’ ARKB, followed with inflows of around $36 million and $17 million, respectively. Grayscale Bitcoin Mini Trust (BTC) also recorded inflows of $7 million, while VanEck’s HODL fund brought in around $6 million.

ETH ETFs

Ethereum (ETH) spot ETFs also experienced outflows of approximately $78 million on Jan. 2, marking the largest outflows since Nov. 19, 2024. The outflows were led by the Bitwise Ethereum ETF (ETHW) with $56 million, followed by Grayscale Ethereum Trust (ETHE), which recorded $21 million in outflows.