U.S. Spot Bitcoin ETFs Face Continued Pressure With $338.4 Million in Net Outflows
12/26/2024 00:03U.S. spot Bitcoin exchange-traded funds (ETFs) faced significant net outflows on Tuesday, totaling $338.4 million.
U.S. spot Bitcoin exchange-traded funds (ETFs) faced significant net outflows on Tuesday, totaling $338.4 million. This marks the fourth consecutive day of outflows, extending a trend that has seen a total of $1.52 billion exit these funds over the past four days.
The recent decline follows a period of sustained inflows, where spot Bitcoin ETFs attracted over $6.7 billion during a 15-day stretch leading up to Dec. 18.
On Tuesday, the trading volume for the 12 spot Bitcoin ETFs reached $2.16 billion, while their cumulative net inflow since inception stands at approximately $35.5 billion.
Among the funds, BlackRock’s IBIT recorded the highest outflow, with approximately $188.7 million leaving the fund. Fidelity's FBTC followed, experiencing $83 million in withdrawals. Ark and 21Shares’ ARKB also saw net outflows of $75 million. The only fund to report inflows on Tuesday was Bitwise’s BITB, which added $8.5 million to its total.
In contrast to the outflows in the Bitcoin sector, spot Ether ETFs saw $53.5 million in net inflows on the same day. BlackRock’s ETHA led this segment with $43.9 million in new investments, while Bitwise’s Ether fund gained $6.2 million and Fidelity’s FETH saw inflows of $3.45 million.
The trading volume for spot Ether ETFs was $262 million, bringing their cumulative net inflows to $2.51 billion.