Today, in crypto, BlackRock’s Bitcoin ETF has seen its biggest-ever outflow just before Christmas. Meanwhile, MicroStrategy called a special shareholders meeting to fund its $42 billion Bitcoin acquisition plan, and Russia banned crypto mining in 10 regions for six years.
IBIT sees record bleed on Christmas Eve
BlackRock’s Bitcoin BTC $98,029 exchange-traded fund (ETFs) saw its largest-ever single-day outflow on Dec. 24 amid the fourth straight trading day of outflows for the 12 United States Bitcoin funds.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) hit $188.7 million in outflows on Christmas Eve, beating its previous record outflow day of $72.7 million set just days earlier on Dec. 20, per CoinGlass data.
All-time IBIT flows. Source: CoinGlass
All 12 US spot Bitcoin ETFs saw joint total outflows hit $338.4 million on the day and have seen joint net outflows of $1.52 billion in the trading days since Dec. 19.
The Bitwise Bitcoin ETF (BITB) was the only one to see a pre-Christmas inflow of $8.5 million.
The Ether ETH $3,489.65 ETFs, meanwhile, have seen continued momentum with a second day of inflows totaling $53.6 million, coming after a $130.8 million inflow on Dec. 23.
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MicroStrategy calls shareholders meeting to fund more Bitcoin purchases
MicroStrategy has called a special shareholders meeting to seek approval for increasing its authorized shares to support its $42 billion Bitcoin acquisition plan, known as the 21/21 Plan.
The proposal includes increasing the number of authorized shares for both Class A common stock and preferred stock to provide more flexibility for future equity issuances. Since October, MicroStrategy has significantly accelerated its Bitcoin purchases, acquiring 42,162 BTC in December alone. As of Dec. 22, the company owned over 444,000 BTC, valued at approximately $43.5 billion at current prices.
MicroStrategy’s portfolio holds over 444 million BTC. Source: Saylor Tracker
Russia bans crypto mining for 6 years in 10 regions
The Russian government decided to impose a ban on cryptocurrency mining from Jan. 1, 2025. The ban will remain effective for six years until March 15, 2031.
According to the local news agency TASS, Russian lawmakers also approved seasonal restrictions in key cryptocurrency mining regions to prevent energy blackouts.
The restrictions align with Russia’s cryptocurrency mining laws signed by its president, Vladimir Putin, in August and October 2024.