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Key Takeaways

• BlackRock's iShares Bitcoin Trust experienced a new record of $332.6 million for single-day outflows on Thursday.

• That brought IBIT outflows to nearly $393 million for the week.

• Other bitcoin ETFs saw minor inflows, and the Ethereum ETFs saw $77.5 in net outflows.

• Despite the lackluster start to the new year, analysts see bitcoin rising to $180,000 or more in 2025.

BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest single-day net outflow on Thursday, with investors withdrawing a staggering $332.6 million, according to data from Farside Investors.

IBIT is the largest of all the bitcoin ETFs, with around $54 billion in net assets. This record-breaking outflow follows a robust performance in 2024, when IBIT amassed over $37 billion in inflows and helped propel bitcoin to an all-time high above $108,000 in December.

Thursday marked the third consecutive day of outflows for IBIT, bringing the week’s total to nearly $393 million.

Bloomberg ETF analyst Eric Balchunas doesn't necessarily see this activity as a bearish indicator. "It's gonna be two steps [forward] and one step back and lately it's been like 6 steps [forward] so long overdue IMO," Balchunas posted on X.

Other bitcoin ETFs saw minor inflows on the first day of trading in 2025; however, these flows were nowhere near what would be necessary to make up for IBIT's outflows.

For example, IBIT competitors such as Bitwise’s BITB and Fidelity’s FBTC reported inflows of $48 million and $36 million, respectively. Ethereum ETFs also performed poorly in aggregate, recording combined outflows of $77.5 million, according to Farside Investors.

Bitcoin currently sits around $98,000. Some analysts see the crypto asset rising to new all-time highs of $180,000 or higher in 2025, with potential nation state adoption considered a key indicator to watch for this year.

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