On December 20, Bitcoin (BTC) and Ethereum (ETH) Exchange Traded Funds (ETFs) recorded net outflows to extend their losing streak to a second consecutive day amid a generalized crypto market decline. Notably, the past few days saw a decline from its all-time high (ATH) of about $108,000 to levels below $100,000, even touching $92,000 at some point.
Ethereum spot ETF had a net inflow of $62.73 million from December 16 to December 20 last week, maintaining net inflow for 4 consecutive weeks. Blackrock ETF ETHA had a weekly net inflow of $144 million.https://t.co/Tvs2oCSxTg pic.twitter.com/8AJ4gab0PS
— Wu Blockchain (@WuBlockchain) December 23, 2024
As expected, Bitcoin and Ethereum Exchange Traded Funds (ETFs) mirrored the declining trend, which resulted in Bitcoin ETFs recording their highest-ever outflows on Thursday, December 19. Per SosoValue’s ETF flow data, the commodities witnessed losses of about $671.9 million on Thursday to end their fifteen days of consecutive net inflows. Similarly, Ethereum ETFs’ straight eighteen profitable outings ended on December 19 after encountering losses of about $60.47 million.
The outflow trend has persisted, with the most recent data revealing that Bitcoin ETFs experienced losses valued at about $276.93 million. Like Bitcoin, Ethereum ETFs attracted roughly $75.12 million in net outflows. Despite the two consecutive losses, Bitcoin and Ethereum commodities ended the week profitably. For context, BTC and ETH ETFs registered weekly gains of about $449.25 million and $62.73 million, respectively.
Bitcoin spot ETF had a net inflow of US$449 million from December 16 to December 20 last week, and BlackRock ETF IBIT had a weekly net inflow of US$1.45 billion. https://t.co/YanotfbWiJ pic.twitter.com/v48SxymqF6
— Wu Blockchain (@WuBlockchain) December 23, 2024
ARKB Tops Bitcoin ETFs Losses Charts
In the most recent ETF flow data, six Bitcoin ETFs were active, while five witnessed zero flows. Notedly, only two entities among the active ETFs recorded profits, as the remaining four encountered only losses. The profitable entities were Grayscale Mini Bitcoin ETF (BTC), with about $6.41 million, and Franklin Bitcoin ETF (EZBC) with approximately $5.61 million.
In losses, ARK 21Shares led the losses charts with outflows worth approximately $87.01 million. Other entities that experienced outflows were BlackRock Bitcoin ETF (IBIT) ($72.70 million), Fidelity Bitcoin ETF (FBTC) ($71.89 million), and Grayscale Bitcoin ETF ($57.36 million).
Following the recent inputs, Bitcoin ETF cumulative net inflows have soared to about $36.05 billion. The total value traded was about $4.09 billion, while the total net assets reflected approximately $109.72 billion. It is worth noting that the total net assets represent 5.75% of Bitcoin’s market cap.
ETHA Record Over $100 Million in Losses
Unlike Bitcoin, only four entities were active. Three recorded net inflows, while only one witnessed losses. Per SosoValue’s statistics, the only outflow valued at about $103.68 million came from BlackRock Ethereum ETF. On the other hand, Fidelity Ethereum ETF (FETH), Grayscale Mini Ethereum ETF (ETH), and Grayscale Ethereum ETF (ETHE). They registered gains of about $12.95 million, $8.1 million, and $7.51 million.
With the latest contribution, the cumulative net inflow was about $2.33 billion. Meanwhile, the total value traded was about $789.47 million. The total net assets valuation reflected $12.15 billion, representing 2.93% of Ethereum’s $408.86 billion market capitalization.
