On December 30, spot Bitcoin exchange-traded funds (ETFs) in the United States recorded substantial outflows as Bitcoin’s price struggled to stay above $93,000. Data from SoSoValue revealed that the 12 spot Bitcoin ETFs experienced withdrawals totaling $426.13 million, extending a two-day streak that brought cumulative outflows to $723.8 million.
Among these, Fidelity’s FBTC led the outflows, losing $154.64 million. Grayscale’s GBTC followed closely, reporting $134.5 million in withdrawals.
Additional ETFs Experience Withdrawals
Other notable outflows included $36.52 million from BlackRock’s IBIT, $31.73 million from Grayscale’s Bitcoin Mini Trust, $31.37 million from Bitwise’s BITB, and $26.4 million from ARK 21Shares’ ARKB. Valkyrie’s BRRR recorded a smaller outflow of $10.96 million. Notably, none of the Bitcoin ETFs reported any inflows on that day.
Trading activity across these 12 products reached $3.14 billion on December 30, slightly up from the $3.02 billion recorded the previous day. As of press time, Bitcoin’s price stood at $92,458, reflecting a 1% decline over the past 24 hours.
Ethereum ETFs Also See Declines
The downturn extended beyond Bitcoin ETFs, with spot Ethereum ETFs recording $55.41 million in outflows on December 30. This marked the end of a four-day inflow streak that had attracted $349.1 million. Fidelity’s FETH led these withdrawals with $20.41 million, followed by Grayscale’s ETHE and Mini Ethereum Trust, which reported outflows of $17.36 million and $13.75 million, respectively. Franklin Templeton’s EZET saw a more modest withdrawal of $3.88 million.
Despite December’s record inflows of over $2 billion into spot Ethereum ETFs, Ethereum remains in a bearish trend. At press time, Ethereum traded at $3,353, representing a 9% monthly decline.
Record Inflows for US Bitcoin ETFs in 2024
Throughout 2024, US-based spot Bitcoin ETFs attracted impressive net inflows of $35.66 billion, far exceeding initial industry estimates. These ETFs have made history, recording over $500 billion in cumulative daily trading volume since January and drawing $37 billion in net inflows.
Market Leaders in Bitcoin ETFs
BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the market, securing $37.31 billion in inflows. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $11.84 billion, while ARK’s 21Shares Bitcoin ETF (ARKB) garnered $2.49 billion. Bitwise’s Bitcoin ETF (BITB) contributed significantly, recording $2.19 billion in inflows. These figures surpassed Galaxy Digital’s initial projection of $14 billion for the first year.
Ethereum ETFs’ Performance
On the Ethereum ETF front, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) emerged as leaders, with inflows of $3.52 billion and $1.56 billion, respectively. Grayscale’s low-fee Ethereum Mini Trust ETF (ETH) attracted $608.1 million, while Bitwise’s Ethereum ETF (ETHW) surpassed $400 million in inflows. However, Bitcoin ETFs faced $1.33 billion in outflows since December 19, signaling a slight decline as the year concluded.
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