Spot Bitcoin exchange-traded funds (ETFs) in the United States have seen a major reversal in Bitcoin ETF inflows throughout a four-day outflow run. This shift has occurred in the quantity of money received. This workflow runs. Since their election, they have experienced the longest and most frequent outflow sequence.
The market has been doing very well because Donald Trump’s reelection gave it a much-needed boost. According to SoSoValueeelection, it gave it a much-needed boost. According to SoSoValue, exchange-traded funds (ETFs) that invested in spot Bitcoin on December 24 had a total daily net outflow of $338 million on December 24.
BlackRock’s IBIT Lead
BlackRock’s IBIT lost -$83.16 million, beating Fidelity’s FBTC and ARKB at -$75.02. The 12 funds lost -$188 million. Greyscale’s GBTC, VanEck’s HODL, Valkyrie’s BRRR, and WisdomTree’s BTCW made 6.48% despite withdrawals since BITB produced $8.50 million daily. 12.24: $35.68b. After losing $680 million on 12/16, the SPAT Bitcoin ETF gained $121.7 billion on 23/12/19. Spot $ETH ETFs climbed $130.76 million to $2.46 billion.$494.25M daily, $12.05 billion Ethereum, 2.94%.ETHA makes $3.51b/day on $89.51m.FETH earned $46.37m. Grayscale has $1.61 billion; ETH loses $6.09 million every day. Ethereum ETF spot flows flat on December 24.
Digital Asset Gains
It was a positive week for digital asset investments, with a net gain of $308 million. However, on December 19, investors withdrew $576 million in a single day. There was a loss of $1 billion in the last two days of the week. This was mostly because of how the market responded to the Federal Reserve’s “hawkish dot plot” comment. Total assets under management (AuM) for digital asset ETPs dropped by $17.7 billion because of these changes, according to a study from CoinShares. This is the same as a 0.37% drop in AuM.
This exit is scary, but it’s not as big as the biggest daily loss, 2.3%, in mid-2022 after the FOMC raised interest rates. Multi-asset financial products suffered the most, with a loss of $121 million. BTC, on the other hand, gained $375 million over the week. As of today, Ethereum has brought in $51 million, while Solana has lost $8.7 million. While the amounts for altcoins like XRP, Horizen, and Polkadot were smaller, they were still noticeable.
Also Read: Bitcoin ETF Selloff Signals Investor Doubt in Crypto Funds 2024
Summary
The piece discusses recent changes in U.S. spot Bitcoin exchange-traded funds (ETFs) and digital asset investments, specifically focusing on Bitcoin ETF inflows. Bitcoin ETFs had the longest exit streak since they started, lasting four days, but Bitcoin ETF inflows recovered due to changes in the market caused by Trump’s reelection. Bitcoin ETFs lost $338 million on December 24, but the value of Bitcoin still went up by 6.48%. Some big funds, like BlackRock’s IBIT and Grayscale’s GBTC, had mixed returns. Bitwise’s BITB, on the other hand, made money every day.
Ethereum spot ETFs rose by $130.76 million, but Ethereum itself lost some value daily. Digital assets gained a net of $308 million last week, even though much money was taken out on December 19. Overall assets under management (AuM) fell by $17.7 billion because of how the market reacted to the Federal Reserve’s “hawkish” comments. Altcoins like Solana, XRP, and Polkadot saw smaller gains or losses. Ethereum saw the most money come in.
