BlackRock's Bitcoin Exchange Traded Fund (ETF) saw total outflows from Bitcoin funds exceed $1.5 billion for the fourth consecutive business day, marking the largest single-day outflow ever.
According to CoinGlass, BlackRock's iShares Bitcoin Trust ETF (IBIT) reached $188.7 million in outflows on Dec. 24, surpassing its previous record of $72.7 million set on Dec. 20. exceeded. data.
Total outflows across all 12 US-based Spot Bitcoin (BTC) ETFs reached $338.4 million on Christmas Eve. Since Dec. 19, both funds have recorded combined net outflows of $1.52 billion.
IBIT's constant flow data shows the fund's infrequent outflow dates. sauce: coin glass
Ether ETF inflows continue
Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF also recorded outflows of $83.2 million and $75 million, respectively, on December 24, but it was Bitwise Bitcoin that had inflows. ETFs alone amounted to $8.5 million.
Meanwhile, the Ether ETF received inflows for the second consecutive day ahead of Christmas.
The US Spot Ether (ETH) ETF continued its momentum with its second day of inflows on December 24th, adding $53.6 million following its $130.8 million inflow on December 23rd.
Total Ethereum Spot ETF net inflows. sauce: coin glass
Ether Fund, which was launched in July, has lagged compared to the strong early momentum the Spot Bitcoin ETF saw after its launch in January.
However, since late November, the Ether ETF has gained momentum, and its 18-day inflow streak was broken on December 18th.
Ether plans to run BTC in January
Bitcoin was up 4.59% over the past 24 hours, trading at $98,035, while Ether was up 3.28% over the same period, trading at $3,420. According to CoinMarketCap data at the time of writing.
TradingView show The relative strength of Ether to Bitcoin (ETH/BTC ratio) is currently 0.035. Some analysts say ETH could surpass Bitcoin in January 2025.
Related: Bitcoin price soars to $99,500 in 1 hour after record Bitcoin ETF outflow
Meanwhile, the net assets of US Bitcoin ETFs exceeded those of gold funds for the first time on December 16, according to K33 Research.
According to Vettle Rand, head of research at K33 Research, on Dec. 16, the combined assets under management (AUM) of U.S. Bitcoin funds topped $129 billion, with the U.S. just shy of that number. Outperformed gold ETFs.
The AUM figure includes spot BTC ETFs as well as ETFs that track Bitcoin performance using financial derivatives such as futures. said says Eric Balchunas, Bloomberg ETF analyst.
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