- BlackRock’s IBIT experienced US$332.6 million in the largest single-day selling event so far, though it remains the largest Bitcoin ETF holder with 551,076 BTC and recovered with substantial inflows on January 3.
- While Bitcoin approaches US$100,000 again and Ethereum gains 8% week-over-week, Fidelity’s FBTC outpaced IBIT with US$357 million in inflows on Friday.
- Ethereum ETFs showed volatility with US$36 million net inflows ending 2024, followed by US$77.5 million outflows on January 2, before recovering with US$58.9 million inflows led by BlackRock’s ETHA and Fidelity’s FETH.
Despite strong inflows into the US Spot Bitcoin exchange-traded funds (ETFs), last week the largest of these ETFs took some profits. BlackRock’s IBIT saw US$332.6 million (AU$534.6 million) in net outflows on Thursday, which concluded a three-day selling spree for the largest Bitcoin ETF.
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2024 ended with a combined US$60 million (AU$96.4 million) in outflows on December 30 and 31; 2025 started the year with the above-mentioned close to US$333 million outflows. On the most recent trading day, Friday January 3, IBIT had US$253.1 million (AU$406.7 million) in net inflows.
IBIT currently has the most Bitcoin holdings with 551,076 BTC, valued at US$54.2 million (AU$87.1 million), which is 2.62% of all coins, whereas all other funds combined only hold 577,024 Bitcoin.
Another interesting point is that it wasn’t IBIT that had the largest net inflows Friday. Data from Farside Investors shows that the Fidelity Wise Origin Bitcoin Fund (FBTC) took in US$357 million (AU$573.8 million), outpacing IBIT.
Meanwhile, Bitcoin itself is pushing hard to regain its US$100,000 price tag, currently trading for US$98,337 (AU$158,083), up 5% from last week.
The second largest crypto by market cap, Ethereum (ETH), has gained almost 8% week-on-week, with the current price at US$3,634 (AU$5,841.91) as per data from CoinMarketCap.
Ethereum ETFs See Mixed Start into 2025
The Ether ETFs however, saw a mixed end to 2024 and start into 2025, with not much volume over the past few days.
The year ended with a total US$36 million (AU$57.8 million) net inflows on the last trading day, but the first trading day on January 2 had US$77.5 million (AU$124.6 million) leave the funds combined.
Friday things turned around with US$58.9 million (AU$94.7 million) in net inflows, with BlackRock’s ETHA and Fidelity’s FETH ETFs receiving the largest chunk of inflows, with US$33.9 million (AU$54.4 million) and US$27.1 million (AU$43.5 million) respectively.
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FETH and ETHA are by far the largest Ethereum ETFs and together account for the majority of ETH in the US Spot Ethereum ETFs.
The ETH funds are significantly lagging behind their BTC counterparts, which is likely due to the absence of any staking feature. Analysts at Bernstein believe that once Donald Trump takes office, staking could potentially be added, possibly leading to more interest by investors.
We believe, under a new Trump 2.0 crypto-friendly [Securities and Exchange Commission], ETH staking yield will likely be approved.
BernsteinCredit: Source link
