The U.S. Bitcoin spot ETF suffered a massive loss of funds on Thursday, its largest scale since its listing in January this year, while the CME Bitcoin futures premium also fell to single digits, reflecting a significant weakening of short-term market demand.
According to data from Farside Investors, on December 19, Eastern Time, the 15 consecutive days of net inflows of 11 Bitcoin spot ETFs in the United States came to an abrupt end. The total net outflow on that day was US$671.9 million, a record high since its launch on January 11 this year. The highest net outflow record in a single day.
In this wave of divestments, Fidelity’s FBTC and Grayscale’s GBTC suffered the most serious losses, with outflows of US$208.5 million and US$188.6 million respectively. Other ETF funds are also facing varying degrees of withdrawal pressure, and BlackRock's IBIT has experienced "zero" capital inflows for the first time in several weeks.
Bitcoin continued its decline today (20th), further testing US$94,600, a drop of more than 12% from the all-time high of US$108,135 hit earlier this week.
The downturn in market sentiment is not only reflected in spot trading, but also spreads to the derivatives market. The annualized premium for one-month Bitcoin futures on the CME Group fell to 9.83%, the lowest in more than a month, according to data from Amberdata.
This means that the return on arbitrage transactions through "buying spot and shorting futures" has significantly shrunk, which may further weaken investor demand for ETFs in the short term.
Ethereum spot ETFs were not immune, with net outflows reaching $60.5 million on Thursday, the first outflow since November 21. Ethereum has plunged more than 20% from above $4,100 since the Federal Reserve announced its latest interest rate policy.
"A single-day net outflow of US$670 million! The Bitcoin spot ETF's "massive blood loss" hit the highest level since its listing." This article was first published on (Block Guest).
