As the holiday season brings both surprises and shake-ups, the crypto ETF market has shown a tale of two stories. While Bitcoin ETFs saw a sharp outflow, Ethereum ETFs were basking in inflows and bullish vibes. Letâs dive into the festive drama!
đ Bitcoin ETFs Take a Hit: Bears in Control
Outflows Total: $226.56M
On December 23, the Bitcoin ETF market faced heavy sell-offs, draining $226M in a single day. Big players like Fidelityâs FBTC lost a staggering $145.97M, leading the pack of red. Grayscaleâs GBTC wasnât spared either, shedding $38.39M, while Bitwiseâs BITB and Invescoâs BTCO followed suit, losing $23.75M and $25.56M, respectively.
Despite this chaos, Bitcoin ETFs still hold a whopping $105.08B in reserves, with cumulative inflows standing strong at $35.83B since January. Bulls might be down, but theyâre far from out!
Ethereum ETFs Shine Bright: Bulls in Action
Inflows Total: $130.76M
The nine Ethereum ETFs stole the show, raking in massive inflows. BlackRockâs ETHA was the superstar, bringing in $89.51M, while Fidelityâs FETH added $46.37M. Even Bitwiseâs ETHW joined the party, securing $963K in fresh capital.
The cumulative net inflows for Ethereum funds have hit $2.46B since July, boosting their reserves to $12.05Bâ2.94% of Ethereumâs total market cap. This bullish momentum hints at a stronger 2024 for ETH-focused investments.
The stage is set for 2024, with Ethereum leading the charge and Bitcoin regrouping for a comeback. Stay sharpâbig moves are brewing!
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