U.S. spot bitcoin exchange-traded funds (ETFs) took a hit the day before Christmas Eve, while ethereum ETFs embraced some positive vibes.
Holiday Havoc: Bitcoin ETFs Lose, Ethereum ETFs Soak Up Inflows
There’s been a heap of market jitters floating around, amplified by the typical holiday lull. On Dec. 23, the 12 spot bitcoin ETFs experienced a day of outflows, with a whopping $226.56 million draining from their reserves. Blackrock‘s IBIT did manage to pocket $31.66 million, but seven other ETFs more than canceled out those gains with their reductions. The biggest casualty on Monday was Fidelity’s FBTC, which saw a hefty $145.97 million evaporate. FBTC was closely tailed by Grayscale’s GBTC, which lost $38.39 million on Monday.
Invesco’s BTCO was down $25.56 million, Bitwise‘s BITB lost $23.75 million, and Ark Invest’s and 21shares’ ARKB saw $15.75 million vanish. Grayscale’s Bitcoin Mini Trust also took a $6.18 million hit, and Vaneck’s HODL decreased by $2.62 million. This dip still leaves the 12 funds with a cumulative net inflow of $35.83 billion since Jan. 11, 2024. According to Sosovalue.com data, $3.52 billion was traded on Monday, and the funds now hold $105.08 billion in BTC.
On the flip side, the nine ethereum ETFs had a day to celebrate, gathering $130.76 million in positive inflows. Blackrock’s ETHA was the star, scooping up $89.51 million. Not far behind, Fidelity‘s FETH absorbed $46.37 million. Bitwise’s ETHW also managed to attract $963,720 in inflows. However, Grayscale’s Ethereum Mini Trust took a small step back, losing $6.09 million during the day’s trading.
These inflows boosted the cumulative net inflows since July 23 to $2.46 billion. Sosovalue.com metrics reveal that around $494.25 million was exchanged on Monday. The nine ETH funds now boast $12.05 billion in ether reserves, representing 2.94% of the crypto asset’s total market value.
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