Nearly $1.2 Billion Flows Out of Bitcoin ETFs in Three Days
On Christmas Eve, U.S. Bitcoin ETF net flows have experienced outflows for three consecutive days. Moreover, these ETFs set new single-day outflow records, temporarily dampening Bitcoin’s upward momentum.
However, the U.S.-based Ethereum ETF is showing positive signs of net inflows.
Bitcoin ETF sees net outflows for third day in a row
Data from SoSoValue shows Bitcoin ETF Fund outflows in the past three trading days were nearly US$1.2 billion. It is worth noting that outflows reached $680 million on December 19, which was the highest single-day outflow since the Bitcoin ETF was approved.
“Massive capital outflows like this raise the question of whether this is simply profit-taking, or a structural shift in capital. The most likely explanation at this stage is profit-taking, but it’s worth monitoring market sentiment and institutional moves to confirm .” Investor Antonio Zenaro commented.
Prior to this, the Bitcoin ETF recorded Net traffic is positive for 15 consecutive dayspushing total net worth from $100 billion to $121 billion. However, outflows in the last three days have caused total net assets to fall to $105 billion.
Grayscale’s GBTC was the main contributor to outflows, selling 1,870 BTC over the past three trading days, Coinglass data shows. This significantly exceeds BlackRock’s IBIT buying activity during the same period.
Despite three consecutive days of negative net flows, investor optimism for Bitcoin remains strong. December, Bitcoin ETFs outpace gold ETFs The growth in assets under management (AUM) demonstrates the growing confidence of institutional and retail investors in digital assets.
Interestingly, while there were outflows from the Bitcoin ETF, the Ethereum ETF saw inflows during the December 23 trading session. The Bitcoin ETF experienced $226 million in outflows, while the Ethereum ETF attracted more than $130 million in inflows. Additionally, BlackRock’s Ethereum ETF currently holds over 1,000,000 ETH.
Many investors believe this could signal positive momentum for Ethereum and altcoins, especially after Ethereum prices fell from $4,100 to nearly $3,100 in December.
“BlackRock’s Ethereum ETF currently holds over 1,000,000 ETH. This figure, combined with the fact that ETH is still consolidating below its all-time highs, is an altcoin season indicator like we haven’t seen before.” Investor Dan Gambardello commented.
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