Bitcoin ETFs Shed $1.2B in 3 Trading Days as Altcoins Outperform BTC
The post Bitcoin ETFs Shed $1.2B in 3 Trading Days as Altcoins Outperform BTC appeared on BitcoinEthereumNews.com.
Institutional investors are getting cold feet as the crypto market correction deepens with spot Bitcoin ETFs in the US reversing a fifteen consecutive trading day trend of inflows. For the past three trading days, the eleven spot Bitcoin ETFs have shed $1.17 billion as the asset fell more than 14% from its all-time high a week ago. On Dec. 23, total aggregate outflows totaled $226.5 million, with Fidelity leading the exodus with an outflow of $146 million. Bitwise, Ark 21Shares, Invesco, VanEck, and Grayscale funds also saw outflows on Monday, but BlackRock bucked the trend with an inflow of $31.7 million. Bitcoin ETF Daily Flow Blackrock US$ Flow: 31.7 million For all the data and disclaimers visit:https://t.co/04S8jMGl07 — Farside Investors (@FarsideUK) December 24, 2024 Bitcoin ETFs Cooling Nevertheless, the total inflow to date for these institutional investment products is $35.8 billion, highlighting the huge demand for Bitcoin-based ETPs. On Dec. 24, investment firm Swan reported that BlackRock’s iShares Bitcoin ETF is now in the top 35 of all ETFs ever launched, with $53.3 billion in assets under management. NEW: BlackRock’s $IBIT #Bitcoin ETF is now in the top 35 of all ETFs EVER with $53.3B AUM. Out of 3,900+ ETFs. In less than a year. BULLISH pic.twitter.com/j2j2hX0VHr — Swan (@Swan) December 23, 2024 Analysis from CoinShares this week revealed that crypto asset funds saw more than $1 billion in outflows between Dec. 19 and 20. ETF Store president Nate Geraci saw the humorous side of last week’s Federal Reserve-induced market slump. pic.twitter.com/a6FK40OEfB — Nate Geraci (@NateGeraci) December 23, 2024 Spot Ethereum ETFs bucked the outflow trend with an aggregate inflow of $130.8 million on Dec. 23, following two consecutive trading days of outflows last week, according to preliminary data from Farside Investors. BlackRock was again the leader of the pack with…
Filed under: News - @ December 24, 2024 7:17 am