Bitcoin exchange-traded funds (ETFs) in the U.S. experienced their largest-ever single-day outflow on Christmas Eve, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) leading the pack. According to CoinGlass, IBIT saw $188.7 million pulled out, eclipsing its previous record of $72.7 million set just four days prior. Altogether, U.S.-based spot Bitcoin ETFs lost a staggering $338.4 million on Dec. 24, contributing to total net outflows of $1.52 billion since Dec. 19.
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Even heavyweights like Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) weren’t spared, facing $83.2 million and $75 million in outflows, respectively. The sole bright spot? Bitwise Bitcoin ETF (BITB) managed an $8.5 million inflow.
Ethereum ETFs Attract Steady Inflows
While Bitcoin funds floundered, U.S. spot Ethereum ETFs saw a second consecutive day of inflows on Dec. 24, adding $53.6 million after a $130.8 million surge on Dec. 23. Despite a slow start following their July launch, these ETFs have gained traction since late November, thanks to an 18-day inflow streak. Analysts suggest this momentum could signal Ethereum’s potential to outperform Bitcoin in January, with the ETH/BTC ratio currently at 0.035.
Bitcoin ETFs Surpass Gold Funds
In a milestone development, net assets in U.S. Bitcoin ETFs surpassed those of gold funds for the first time on Dec. 16. Bitcoin ETFs collectively reached $129 billion in assets under management, outpacing gold funds, according to K33 Research. Bloomberg ETF analyst Eric Balchunas attributed the growth to both spot Bitcoin ETFs and those tracking Bitcoin through derivatives.
Investors can track and compare Bitcoin ETFs on TipRanks. Click on the image below to find out more.
