BlackRock’s IBIT Sees $188 Million Outflow as Bitcoin ETFs Surpass Gold in AUM

BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw its largest single-day outflow on December 24, with $188.7 million withdrawn, according to CoinGlass data. This exceeded the previous record of $72.7 million in outflows on December 20.

Fidelity, ARK Bitcoin ETFs Face Outflows

On the same day, US-based spot Bitcoin ETFs collectively recorded outflows totalling $338.4 million. Since December 19, these funds have experienced net outflows of $1.52 billion.

The Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF also posted significant outflows of $83.2 million and $75 million, respectively. In contrast, the Bitwise Bitcoin ETF was the sole fund to see inflows, amounting to $8.5 million.

BlackRock’s Bitcoin exchange-traded fund (ETF) saw its largest-ever single-day outflow as #Bitcoin funds notched a fourth straight trading day of outflows totaling more than $1.5 billion.#BlackRock’s iShares Bitcoin Trust ETF (IBIT) hit $188.7 million in outflows on Dec. 24,… pic.twitter.com/1x2f74EYqQ

Ether ETFs Gain Traction Late November

In contrast to Bitcoin, Ether ETFs witnessed inflows for two consecutive days before Christmas. US spot Ether ETFs recorded $53.6 million in inflows on December 24, following $130.8 million the previous day.

Launched in July, Ether ETFs initially lagged behind Bitcoin ETFs, which debuted in January. However, Ether ETFs gained traction in late November, marked by an 18-day inflow streak that ended on December 18.

Ether May Outperform Bitcoin in 2025

As of December 24, Bitcoin was trading at $98,035, up 4.59% in the last 24 hours, while Ether reached $3,420, up 3.28%, according to CoinMarketCap. Analysts suggest Ether may outperform Bitcoin in early 2025.

BlackRock's #Bitcoin ETF, $IBIT, is now worth nearly double BlackRock's gold ETF, $IAU. which was launched in 2005 👀 pic.twitter.com/jAiCKmPsN7

Notably, on December 16, US Bitcoin ETFs surpassed gold ETFs in assets under management (AUM) for the first time, reaching $129 billion. This figure includes spot ETFs and those tracking Bitcoin performance through derivatives. Gold ETFs held slightly less, according to K33 Research and Bloomberg.

BlackRock Recommends Bitcoin Allocation for Portfolios

Meanwhile, BlackRock has recommended that investors consider allocating up to 2% of their portfolios to Bitcoin, citing its potential as a diversifying asset due to its historically lower correlation with other major asset classes.

🇺🇸 $10 TRILLION BlackRock just suggested allocating 2% of the portfolio in #Bitcoin 🤯THIS IS MASSIVE! 🚀 pic.twitter.com/aAbhYKUVOp

Bitcoin is currently trading at around $99K. The firm noted that Bitcoin could offer an alternative source of returns, but also highlighted the significant risks involved, as reported by Finance Magnates.

The report pointed out Bitcoin’s volatility and susceptibility to sharp selloffs, and stated that, at times, its returns have moved in line with risk assets like stocks, reducing its effectiveness as a hedge.