Sharp Decline in US Bitcoin and Ethereum ETFs
On December 19, US spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced a significant decline, with substantial outflows disrupting long-standing streaks of investor inflows.
Bitcoin ETF Outflows
- Bitcoin ETFs saw their most significant single-day outflows since their launch in January.
- Investors withdrew $671.9 million from the funds, breaking a 15-day streak of inflows.
- Fidelity’s FBTC led the sell-off with $208 million in outflows.
- Grayscale Bitcoin Mini Trust and ARK 21Shares’ ARKB also experienced outflows of $188 million and $108 million, respectively.
- WisdomTree’s BTCW bucked the trend, recording $2 million in modest inflows.
Ethereum ETF Outflows
- Ethereum ETFs experienced outflows totaling $60.47 million, ending an 18-day streak of inflows.
- Grayscale’s ETHE suffered the most significant loss with $58.13 million in outflows.
- Bitwise’s ETHW followed with $6.78 million in outflows.
- Fidelity’s FETH and VanEck’s ETHV attracted inflows of $5.1 million and $4.9 million, respectively.
Market Impact
Despite some ETFs attracting inflows, the broader market saw a decline as other Ethereum ETF products recorded zero flows. The overall trend indicated a significant shift in investor sentiment.
