U.S.-based spot Bitcoin ETFs have largely given back the inflow gains made since early December following a three-day outflow streak totaling nearly $1.2 billion in value.
The three-day outflow streak is the longest since the three days leading up to the re-election of former President Donald Trump to the presidency, an event which helped spur significant increases in the price of bitcoin and other cryptocurrencies.
The twelve spot Bitcoin ETFs available on U.S. markets have logged a total of $1.18 billion in outflows over the past 3 trading days, according to SoSoValue data, which along with bitcoin's declining price, decreased the total value held in the funds by $10.7 billion between the end of the trading days on Wednesday, Dec. 18 and Monday, Dec. 23.
The funds held just over $105 billion worth of value at the end of the trading day on Monday, a touch higher than the $103.9 billion the funds held at the beginning of December. Dec. 16 saw the funds set the record for their highest total value seen yet, at $121.7 billion.
While funds such as Fidelity's FBTC logged outflows all three days, with Fidelity's fund shedding over $426 million alone, some funds bucked the trend; BlackRock's IBIT, for example, saw only one day of outflows and one day of no motion, with only $41 million worth of outflows logged in total.
The outflow streak may be coming to an end, as bitcoin's price rebounded on Tuesday, gaining nearly 6% in 24 hours, according to The Block's Bitcoin Price Page. (ETF inflow data for Tuesday is not yet available, as the trading day is still ongoing.)
Meanwhile, spot Ethereum ETFs have largely traded sideways over the same period, according to SoSoValue data. Total outflows just outpaced total inflows by $4.83 million, though the value of the assets held in the funds declined by $1.1 billion between Dec. 18 and 23.
ETH's price is also on the rise, with a 5% gain in the last 24 hours, according to The Block's Ethereum Price Page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
