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Bitcoin ETFs see outflows while Ethereum funds receive investments
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Bitcoin investment funds (ETFs) faced a day of significant outflows, with a total of US$226.5 million settled on December 23. This marks the third consecutive day of outflows exceeding inflows.
While Fidelity led sales with US$146 million, BlackRock stood out by acquiring US$31.7 million in BTC. On the other hand, the Ethereum ETF increases its inflows at the end of the year.
Regarding outflows recorded by Bitcoin ETFs, 6 of the 10 funds sold US$226.5 million of the asset in one day. It is the third day in a row that outflows exceed inflows of the funds that placed US$1.17 billion, around 13 thousand Bitcoins, on the market.
The mark coincides with the sharp fall of the cryptocurrency, which began to devalue one day before the ETFs began the series of daily net outflows, on the 18th.
ETFs come and go
Among the managers who carried out the most departures on the 23rd, the highlight was Fidelitywhich recorded another US$146 million in outflows. Therefore, the manager totaled US$426.4 million in outflows from Thursday to now. In addition to it, the Grayscale settled $38.4 million, Bitwise sold $23.7 million, Ark another US$ 15.7 million and the Invesco US$25.6 million.
The only exception was, once again, BlackRock. The largest asset manager in the world made the opposite move of its partners and received an additional US$31.7 million in investments.
With over $11.5 trillion in assets, the manager recorded, on average, US$ 155 million in inflows every day in 2024. This is a total of US$37.361 billion. The numbers put IBIT (the name of BlackRock’s Bitcoin ETF) between the 35 best from a list of more than 3,900 ETFs created throughout the history of fundsaccording to Swan.
On the other hand, the Ethereum ETFs closed another positive day, with a total of US$130.8 billion in inflows. Fidelity recorded $46.4 million in inflows on the 23rd. Bitwise also recorded a modest inflow of $1 million and BlackRock received inflows of $89.5 million.
However, Grayscale recorded over $6.1 million in outflows from its Ethereum ETF. A curious fact is that the manager, which is notable for recording numerous outflows of BTC from its ETF throughout the year, has seen a different strategy in relation to ETH.
Bitcoin ETFs see outflows while Ethereum funds receive investments
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Bitcoin ETFs see outflows while Ethereum funds receive investments
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Bitcoin ETFs see outflows while Ethereum funds receive investments
