BlackRock's spot Bitcoin ETF saw a record daily outflow of $332.6 million

From Investing.com

January 3, 2025 05:31:26 AM:

BlackRock’s iShares Trust saw its largest daily outflow since launching, with $332.6 million leaving the spot Bitcoin ETF on Jan. 2. This marks three consecutive days of outflows, reaching a total of $392.6 million in the past week. Despite this, the fund remains one of the top-performing in the U.S. for 2024.

Data from Bloomberg shows BlackRock’s Bitcoin ETF ranked third in inflows, behind Vanguard and iShares Core S&P 500. Other spot Bitcoin ETFs like Bitwise, Fidelity, and Ark 21Shares recorded inflows while Grayscale Bitcoin Mini Trust ETF saw a modest $6.9 million inflow, contrasting with a $23.1 million outflow for the larger Grayscale Bitcoin Trust fund.

Overall net outflow on Jan. 2 was $242 million, driven by BlackRock’s withdrawals, offsetting inflows by competitors. U.S. spot ETFs experienced $77.5 million in net outflows, with Bitwise Ethereum ETF accounting for the majority at $56.1 million, while Grayscale Ethereum Trust ETF reported outflows of $21.4 million.

The combined trading volume for ether funds reached $397.2 million on Jan. 2, up from $313.1 million on Dec. 31. The cumulative net inflows for the funds have grown to $2.58 billion, reflecting continued interest in cryptocurrency investments.

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