While they have continued trading days with positive net flows since the end of November, spot Bitcoin ETFs (BTC) and spot Ethereum ETFs (ETH) have just suffered a setback, and not the least .
After a 15-day streak of positive entries, spot Bitcoin ETFs see red
Spot Bitcoin (BTC) ETFs available in the United States recorded this Thursday their heaviest daily net outflows since their launch last January. In all, $680 million net outgoing flows were recorded.
This result puts an end to to a series of 15 consecutive days of positive net flows for spot BTC ETFs between November 27 and December 18. Although these financial products did not break their record for daily net inflows during this period, spot Bitcoin ETFs did. to exceed 35 billion in net incoming flows in less than a year.
💡 Is it possible to invest in Bitcoin ETFs in France?
Of the 12 spot BTC ETFs present on American soil, 8 recorded net outflows. This is the case of the Fidelity Wise Origin Bitcoin Fund from Fidelity which is at the origin of around 30% of net outflows on December 19 with $208.55 million in net outflows. The 2 Bitcoin ETFs offered by Grayscale, the Bitcoin Trust and the Bitcoin Mini Trust, also offered net outflows.
3 spot Bitcoin ETFs remained in balance. This is particularly the case of the iShares Bitcoin Trustwhich had driven the BTC ETF market over the past 3 weeks. The fund issued by Blackrock therefore recorded zero flow yesterday.
Only Hashdex’s Hashdex Bitcoin ETF offered net inflows. However, the $2.05 million in net inflows generated were clearly not enough to tip the scales.
The phenomenon is similar for options on spot Bitcoin ETFs which are recording huge liquidations. Their open interest is in the red to more than a billion dollars as of December 18.
In recent hours, the price of Bitcoin has been falling sharply. Between Jerome Powell's statements around cryptocurrency and recent liquidations, BTC is now trading less than $97,000 compared to more than $108,000 a few days ago.
Open an account on Binance, the world's #1 crypto platform
Etehreum spot ETFs suffer the same fate
In addition to spot Bitcoin ETFs, spot Ethereum (ETH) ETFs also have recorded net outflows this Thursday. With $60.47 million in net outflows, spot ETH ETFs did not set a record. However, these net exits also put an end to to a series of 18 days of positive net flows between November 22 and December 18.
This good period allowed spot Ethereum ETFs, which had difficulty getting started, to clearly cross the threshold of 2 million net incoming flowsjust 6 months after their launch.
Of the 9 spot ETH ETFs available in the United States, 4 of them recorded net outflows. The vast majority of these net outflows come from Grayscale's Grayscale Ethereum Trust and its $58.13 million outgoing.
📰 In the News – US Bitcoin ETFs Now Surpass Gold ETFs in Assets Under Management
Only 2 spot ETH ETFs recorded positive net flows: the Fidelity Ethereum Fund and the VanEck Ethereum Trust with respectively 5.05 million and 4.94 million dollars in net inflows this December 19.
The price of Ether also experienced a drop of around 15% over the last 5 days. After crossing the $4,000 mark, the price of ETH is struggling to stay above the $3,300 mark.
🗞️ Pre-order our newspaper n°5 with exclusive content, including Cryptoast21
Source: SoSoValue
The #1 Crypto Newsletter 🍞
Receive a summary of crypto news every day by email 👌
Some links in this article may be affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission.
Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
248 items
