Trends
US spot bitcoin ETFs see $340M outflows
U.S. spot bitcoin ETFs saw $338.4 million in outflows on Tuesday, marking four consecutive days of declines.
Headline
U.S. spot bitcoin ETFs saw $338.4 million in outflows on Tuesday, marking four consecutive days of declines.
Context
U.S. spot bitcoin exchange-traded funds (ETFs) have faced a challenging week, reporting $338.4 million in net outflows on Tuesday, as per data from SoSoValue. This marks the fourth consecutive day of outflows, bringing the total withdrawals over this period to $1.52 billion. The outflows follow a bullish streak earlier in December, where 15 consecutive days of net inflows brought in over $6.7 billion.
Evidence
Pending intelligence enrichment.
Analysis
Among the funds, BlackRock’s IBIT led the outflows, losing $188.7 million. Fidelity’s FBTC and Ark/21Shares’ ARKB followed with $83 million and $75 million in net outflows, respectively. On a positive note, Bitwise’s BITB recorded inflows of $8.5 million, while seven ETFs reported no changes. Notably, these bitcoin ETFs traded a total of $2.16 billion on Tuesday, maintaining a cumulative net inflow of $35.5 billion. Meanwhile, spot ether ETFs showed resilience, attracting $53.5 million in inflows, led by BlackRock’s ETHA with $43.9 million. Also read: Morgan Stanley to allow advisors to offer bitcoin ETFs to wealthy clients Also read: What are spot bitcoin ETFs?
Key Points
- Spot bitcoin ETFs in the U.S. experienced a net outflow of $338.4 million on Tuesday, marking the fourth consecutive day of withdrawals.
- Ether ETFs, in contrast, recorded inflows of $53.5 million on the same day, signalling diverging trends in crypto ETF investments.
Actions
Pending intelligence enrichment.
