Spot Bitcoin ETFs available on American soil experienced a roller coaster ride at the end of the year. After experiencing a record series of daily net inflows, this was stopped in its tracks. Spot BTC ETFs then experienced 4 days in a row of net outflows, even setting a sad record, before a Christmas miracle occurred.
A checkered end to the year for spot Bitcoin ETFs
This Thursday, Boxing Day, spot Bitcoin ETFs available in the United States recorded net inflows. In this way they put an end to to a series of 4 days of net outings.
đź’ˇ Everything you need to know about spot Bitcoin ETFs
In total, the 12 spot BTC ETFs recorded $475.2 million in net inflows on the day of December 26. The funds were carried by the Fidelity Wise Origin Bitcoin Fund of the manager Fidelity which registered for $254.4 million in net inflows.
The ARK 21Shares Bitcoin ETF is placed in 2nd position with $186.9 million in net inflowswhile BlackRock's iShares Bitcoin Trust ETF (IBIT) with its $56.5 million completes the podium.
Only 2 spot BTC ETFs recorded daily net outflows: Bitwise’s Bitwise Bitcoin ETF with $8.32 million in net outflowsand Grayscale’s Grayscale Bitcoin Trust with $24.23 million in net outflows this December 26.
These generally positive results take place in a particular context. Between November 29 and December 18, spot Bitcoin ETFs experienced a 15-day streak of daily net inflows, allowing them to break through the $37 billion in net inflows since their launch in January.
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A good year 2024 which suggests good prospects for spot BTC ETFs
Over this period, the price of Bitcoin initially rose, exceeding the $108,000 and reaching for the occasion his ATH. Subsequently, the price of Bitcoin fell slightlyno longer managing to cross the $100,000 mark.
At the same time, spot Bitcoin ETFs posted net outflow volume more than $1.5 billion on December 19, 20, 23 and 24, which also constitutes a record over a period of 4 days of negotiations.
Furthermore, over these 4 days, the IBIT, which is one of the spot BTC ETFs which generally carries the market, recorded its highest daily net outflows in its history. Indeed, on December 24, $188.7 million net outflows were observed, more than double its previous record which had been established a few days earlier, on December 20.
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For the year 2024, there are only 3 days of negotiations left this year: December 27, 30 and 31. For this first year of issue, the BTC spot ETFs recorded for just under $36 billion in net inflows.
For analysts, this launch year is encouraging, and the upcoming inauguration of Donald Trump as the 47th President of the United States could have a positive impact on the future of ETFs backed by cryptocurrencies.
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Source: SoSoValue
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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
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