On Christmas EveBitcoin ETFs Experience $338 Million in Outflows 🤔🤔

On Christmas Eve, U.S. Bitcoin spot exchange-traded funds (ETFs) saw a significant downturn, with a combined outflow of $338.4 million, marking the fourth consecutive day of withdrawals. This trend signals a stark reversal after an extended period of positive inflows.

The outflows were led by BlackRock’s iShares Bitcoin ETF, which faced a record single-day withdrawal of $188.7 million. Fidelity’s Bitcoin ETF also saw a notable decline, with $83 million pulled out, while Ark and 21Shares’ Bitcoin ETF experienced net outflows totaling $75 million. On a more positive note, Bitwise’s BITB fund was the exception, seeing $8.5 million in inflows.

This wave of outflows, which over the past four days totaled more than $1.5 billion, represents the most significant decline for Bitcoin ETFs since the November U.S. elections. Despite this temporary setback, Bitcoin ETFs have still seen strong performance overall, with a cumulative flow of $35.49 billion and assets under management worth approximately $110 billion.

As we head into the new year, all eyes will be on how Bitcoin ETFs weather these fluctuations and whether the market can regain its momentum.