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cryptonews 2024-12-31 11:36:24

Spot Bitcoin ETFs See $426M in Outflows, Extending Two-Day Streak to $723M

Spot Bitcoin exchange-traded funds (ETFs) in the United States faced substantial outflows on December 30, as Bitcoin’s price remained below $93,000. According to SoSoValue data , the 12 spot Bitcoin ETFs recorded $426.13 million in outflows on the day, extending a two-day streak that saw $723.8 million withdrawn from these funds. Fidelity’s FBTC led the outflows, with $154.64 million leaving the fund, followed by Grayscale’s GBTC, which saw $134.5 million in withdrawals. More Funds See Outflows Other significant outflows included $36.52 million from BlackRock’s IBIT, $31.73 million from Grayscale Bitcoin Mini Trust, $31.37 million from Bitwise’s BITB, and $26.4 million from ARK 21Shares’ ARKB. Valkyrie’s BRRR recorded a smaller outflow of $10.96 million, and none of the Bitcoin ETFs reported inflows on the day. The total trading volume for these 12 investment products reached $3.14 billion on December 30, a slight increase from the $3.02 billion recorded the previous day. At press time, Bitcoin is trading at $92,458, down 1% over the past day. The downturn wasn’t limited to Bitcoin ETFs. Spot Ethereum ETFs also saw significant outflows on December 30, totaling $55.41 million, ending a four-day inflow streak that had brought $349.1 million into these funds. Fidelity’s FETH led the Ethereum outflows at $20.41 million, followed by Grayscale’s ETHE and Mini Ethereum Trust, which recorded outflows of $17.36 million and $13.75 million, respectively. Franklin Templeton’s EZET saw a more modest $3.88 million withdrawn. Despite December’s record monthly inflows of over $2 billion into spot Ethereum ETFs, the largest altcoin remains in a downtrend. Ethereum is trading at $3,353 at press time, reflecting a 9% decline on the monthly chart. US Spot Bitcoin ETFs See Over $35B in Inflows in 2024 As reported, spot Bitcoin ETFs in the United States recorded a remarkable $35.66 billion in net inflows in 2024, significantly exceeding early industry projections. Crypto markets are making history: US #Bitcoin ETFs have recorded over $500 billion of cumulative daily trading volume since January. Moreover, these ETFs have attracted a whopping $37 billion of net inflows. The Bitcoin ETF, $IBIT , has grown to ~$52 billion in assets in 11… pic.twitter.com/OHETeoQz8f — The Kobeissi Letter (@KobeissiLetter) December 30, 2024 BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the market with $37.31 billion in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $11.84 billion, and ARK’s 21Shares Bitcoin ETF (ARKB) with $2.49 billion. Other significant contributors included the Bitwise Bitcoin ETF (BITB), which reported $2.19 billion in inflows. These figures far surpassed Galaxy Digital’s initial $14 billion first-year estimate. However, Bitcoin ETFs faced a slight downturn toward the year’s end, with $1.33 billion in outflows since Dec. 19. On the Ether ETF front, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) led inflows with $3.52 billion and $1.56 billion, respectively. Grayscale’s low-fee Ethereum Mini Trust ETF (ETH) secured $608.1 million in inflows, while the Bitwise Ethereum ETF (ETHW) crossed $400 million. The post Spot Bitcoin ETFs See $426M in Outflows, Extending Two-Day Streak to $723M appeared first on Cryptonews .

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