Bitcoin ETFs saw $338 million in outflows on Christmas Eve
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.
BlackRocks iShares Bitcoin ETF led this decline, suffering its largest single-day outflow of $188.7 million. Fidelitys Bitcoin ETF followed with $83 million in withdrawals, while Ark and 21Shares Bitcoin ETF posted net outflows of $75 million.
Bitwises 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 BlackRocks Ethereum fund leading the way with $43.9 million in inflows. Bitwises Ethereum ETF saw $6.2 million in inflows, while Fidelitys 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 Ethereums 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.
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