BlackRock’s iShares Bitcoin Trust ETF saw its largest single-day outflow on Dec. 24, pulling in $188.7 million, according to Coin Glass data. That topped the previous record of $72.7 million in outflows on Dec. 20.
Fidelity and ARK Bitcoin ETFs See Outflows
On the same day, U.S.-based spot Bitcoin ETFs saw a total outflow of $338.4 million. Since Dec. 19, these funds have seen net outflows of $1.52 billion.
The Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF also saw significant outflows of $83.2 million and $75 million, respectively. In contrast, the Bitwise Bitcoin ETF was the only fund to see inflows of $8.5 million.
Ether ETFs Gain Momentum in Late November
In contrast to Bitcoin, ether ETFs saw inflows on two consecutive days before Christmas. The U.S. spot ether ETF saw inflows of $53.6 million on Dec. 24, following $130.8 million the day before.
After launching in July, ether ETFs initially lagged behind the ether ETFs that debuted in January. However, ether ETFs gained momentum in late November, featuring an 18-day streak of inflows that ended on Dec. 18.
Ether Could 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 Coin Market Cap. Analysts suggest that ether could outperform bitcoin in early 2025.4
It’s worth noting that on December 16, bitcoin exchange-traded funds in the United States surpassed gold ETFs in terms of assets under management (AUM) for the first time, reaching $129 billion. This figure includes spot ETFs and those that track bitcoin’s performance through derivatives. Gold ETFs held slightly less, according to K33 Research and Bloomberg.
BlackRock Recommends Bitcoin Portfolio Allocation
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 to other major asset classes.
Bitcoin is currently trading at around $99,000. The firm noted that bitcoin could offer an alternative source of returns, but also highlighted the significant risks involved, Finance Magnates reported.
The report noted bitcoin’s volatility and susceptibility to sharp sell-offs, and stated that at times, its returns have been in line with riskier assets like stocks, reducing its effectiveness as a hedge.
