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BitcoinSistemi 2024-12-31 11:44:08

Bitcoin And Ethereum Spot Exchange Traded Funds (ETFs) Continue To Exit! Here's The Most Prominent Reason!

The cryptocurrency market experienced notable outflows from Bitcoin and Ethereum spot exchange-traded funds (ETFs) on Dec. 30, signaling a continuation of the trend of year-end profit-taking and investor pullbacks amid market uncertainty. Bitcoin and Ethereum Spot ETFs See Significant Outflows as Year-End Approaches Bitcoin Spot ETF Outflows Bitcoin spot ETFs recorded a total net outflow of $426 million, extending their consecutive daily outflow streak to two days. Among them, Grayscale’s Bitcoin Trust (GBTC) reported a single-day net outflow of $135 million, contributing to a staggering total historical net outflow of $21.487 billion. Ethereum Spot ETF Exits Ethereum spot ETFs also saw significant investor withdrawals, with a total net outflow of $55.4 million on Dec. 30. This was the first net outflow after four consecutive days of net inflows. Similarly, Grayscale’s Ethereum Trust (ETHE) reported a single-day net outflow of $17.4 million, signaling waning investor confidence as 2024 approaches. The outflows come amid heightened market volatility and a broader reallocation of assets as investors reassess their portfolios. While spot ETFs saw significant inflows during bullish periods earlier this year, the recent trend points to cautious sentiment in the crypto market. Analysts point to factors such as profit-taking, macroeconomic uncertainty and competition from alternative investment products as possible reasons for the withdrawals. The year-end period often sees portfolio adjustments, which could further exacerbate outflows in the coming days. As the market enters 2025, all eyes will be on the cryptocurrency world, with regulatory developments, institutional involvement, and macroeconomic conditions set to play a key role in shaping investor behavior. *This is not investment advice. Continue Reading: Bitcoin And Ethereum Spot Exchange Traded Funds (ETFs) Continue To Exit! Here's The Most Prominent Reason!