Bitcoin ETFs saw $338 million in outflows on Christmas Eve Bitcoin ETFs saw $338 million in outflows on Christmas Eve
BlackRock's IBIT saw its largest outflow on record during Christmas.
1 min read
Updated: Dec. 25, 2024 at 10:21 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
US Bitcoin spot exchange-traded funds (ETFs) have faced four consecutive days of withdrawals, ending with notable outflows on Christmas Eve.
Data from SoSovalue on Dec. 24 shows that ETFs saw recorded combined outflows of $338.4 million on Christmas Eve.
BlackRock’s iShares Bitcoin ETF led this decline, suffering its largest single-day outflow of $188.7 million. Fidelity’s Bitcoin ETF followed with $83 million in withdrawals, while Ark and 21Shares’ Bitcoin ETF posted net outflows of $75 million.
Bitwise’s BITB fund was the only ETF to record positive net inflows, adding $8.5 million. The remaining funds saw no activity during the day.
Meanwhile, the outflows mark a notable reversal after an extended streak of positive flows. Over the past four trading days, Bitcoin ETFs have seen cumulative outflows of over $1.5 billion, representing their most significant downturn since the November elections that returned Donald Trump to the White House.
Despite the current trend, the ETFs have a cumulative flow of $35.49 billion and hold $110 billion worth of digital assets.
Steady inflows for Ethereum
While Bitcoin ETFs struggled in the past few days, Ethereum-focused spot ETFs continued to attract investor interest.
SoSoValue data showed that the ETH-related investment vehicles had $53.5 million in net inflows, with BlackRock’s Ethereum fund leading the way with $43.9 million in inflows. Bitwise’s Ethereum ETF saw $6.2 million in inflows, while Fidelity’s Ethereum product added $3.45 million.
Since their launch in July, Ethereum funds have steadily gained traction in the market despite their initial performance lagging behind the Bitcoin ETFs.
However, they have recently seen a resurgence, highlighted by a streak of inflows that extended for 18 consecutive days before tapering off.
Analysts at Matrixport explained that these sustained inflows underline Ethereum’s continued appeal among institutional investors and reinforce its status as a key digital asset in the crypto ecosystem.
The Ethereum funds have a collective flow of $2.51 billion as of Dec. 24.
Mentioned in this article
Bitcoin 
Ethereum 
BlackRock 
Fidelity Investments 
Ark Invest 
21shares 
Bitwise 
Bitwise Bitcoin ETF Bitwise Ethereum Fund iShares Bitcoin Trust iShares Ethereum Trust ETF 
Fidelity Wise Origin Bitcoin Trust Fidelity Ethereum Fund 
Donald Trump Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,474.27
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
21shares
21Shares is a Swiss provider of crypto- currency exchange-traded products (ETPs).
Bitwise
Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space..
The Bitwise Bitcoin ETF (BITB) is a newly launched exchange-traded fund that provides investors with exposure to Bitcoin.
The Bitwise Ethereum Fund (ETHW) by Bitwise is a professionally managed investment product that provides investors with direct exposure to Ethereum (ETH).
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The iShares Ethereum Trust ETF (ETHA) by BlackRock is an innovative investment product designed to provide investors with exposure to Ethereum, one of the leading cryptocurrencies.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
The Fidelity Ethereum Fund (FETH) is an investment product designed to provide investors with direct exposure to Ethereum, one of the leading cryptocurrencies.
Donald John Trump was born on June 14, 1946, in Queens, New York City.
