Spot Bitcoin ETFs Shed $1.5 Billion in Four-Day Outflow Streak, Largest Since Trump Win

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Bitcoin ETFs spot ETF

On December 24, spot Bitcoin ETFs recorded a total daily net outflow of $340 million. Last updated:

December 24, 2024 23:57 EST

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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December 24, 2024 23:57 EST

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U.S.-based spot Bitcoin ETFs have witnessed a sharp reversal in inflows, shedding more than $1.5 billion over a four-day outflow streak.

This marks the longest outflow streak since Donald Trump’s re-election, which provided a much-needed boost for the market.

On December 24, spot Bitcoin ETFs recorded a total daily net outflow of $338 million, according to data from SoSoValue.

BlackRock’s IBIT Lead in Terms of Outflows

Among the 12 funds, BlackRock’s IBIT led the day’s losses at -$188 million, followed by Fidelity’s FBTC at -$83.16 million and ARK Invest’s ARKB at -$75.02 million.

Bitwise’s BITB was the sole fund to record a positive daily inflow of $8.50 million, while Grayscale’s GBTC, VanEck’s HODL, Valkyrie’s BRRR, and WisdomTree’s BTCW remained flat with no notable inflows or outflows.

Source: SoSo ValueDespite the net outflows, total assets held across all Bitcoin ETFs stood at $107.53 billion, supported by a day of strong price performance, with funds reporting daily gains of up to +6.48%.

The four-day streak has dragged cumulative net inflows down to $35.68 billion as of December 24.

The total net assets held by spot Bitcoin ETFs dropped to $107.53 billion, retreating from their December 16 peak of $121.7 billion.

Over this period, the funds saw their highest-ever single-day outflow of $680 million on December 19.

It is worth noting that spot Ethereum ETFs recorded a net inflow of $130.76 million on December 23, bringing the cumulative total net inflows to $2.46 billion.

Total net assets across Ethereum ETFs reached $12.05 billion, representing 2.94% of Ethereum’s market cap. The total value traded for the day stood at $494.25 million.

Among the notable performances, BlackRock’s ETHA led the market with a daily net inflow of $89.51 million, pushing its total net assets to $3.51 billion.

Fidelity’s FETH also recorded a strong inflow of $46.37 million, raising its total net assets to $1.46 billion.

Conversely, Grayscale’s ETH faced a daily outflow of $6.09 million, though its total net assets remained at $1.61 billion.

The data for spot Ethereum ETF flows on December 24 is not yet available.

Digital Asset Investment Products Saw $308M Inflows Last Week

Digital asset investment products experienced net inflows of $308 million last week, though this figure conceals a significant single-day outflow of $576 million on December 19.

The week ended with a total outflow of $1 billion over its final two days, triggered largely by market reactions to the Federal Reserve’s hawkish dot plot announcement.

These movements led to a $17.7 billion reduction in total assets under management (AuM) for digital asset ETPs, marking a 0.37% decline in AuM, according to a report from CoinShares.

While concerning, this outflow is modest compared to the largest single-day outflow of 2.3% in mid-2022, which followed an FOMC interest rate hike.

Bitcoin saw resilience with net inflows of $375 million for the week, while multi-asset investment products bore the brunt of the losses, shedding $121 million.

Ethereum continued its streak with $51 million in inflows, offset by Solana’s $8.7 million outflows.

Altcoins such as XRP, Horizen, and Polkadot saw smaller but notable inflows.

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