As a seasoned analyst with over two decades of experience in the financial markets, I find these recent trends in Bitcoin and Ether exchange-traded funds (ETFs) quite intriguing. The post-Christmas net inflows into Bitcoin ETFs are a positive sign, indicating that institutional investors are still bullish on BTC despite its recent dip.
As a researcher, I’ve observed an interesting trend in the United States Bitcoin exchange-traded funds (ETFs). Following Christmas Day, these ETFs experienced net inflows, marking a reversal from a four-day streak of outflows totaling over $1.5 billion.
11 Exchange-Traded Funds collectively experienced inflows totaling approximately $475.2 million on December 26, with the majority of those funds, around $254.4 million, being directed towards the Fidelity Wise Origin Bitcoin (BTC) Fund (FBTC), as reported by CoinGlass.
21Shares Bitcoin ETF by ARK (ARKB) experienced an inflow of approximately $186.9 million, whereas the iShares Bitcoin Trust ETF from BlackRock (IBIT) saw a net inflow of about $56.5 million.
The smaller Bitcoin ETF offerings from Grayscale and VanEck experienced more moderate investments amounting to approximately $7.2 million and $2.7 million each.
On December 25th, the US markets were closed due to Christmas Day. Consequently, the inflows occurred after four consecutive trading days (from December 19th to December 24th) where there were total net outflows from ETFs amounting to approximately $1.52 billion.
On December 24th, IBIT experienced the biggest one-day withdrawal of funds in its history, amounting to $188.7 million, surpassing its previous record of $72.7 million, which was set on December 20th.
Today, we see a dip in Bitcoin‘s value, with a decrease of approximately 2.2%. This has led its price to drop from roughly $98,000 to slightly over $96,000 within the past day.
As a crypto investor, I’ve noticed an interesting trend with Ether ETFs. Over the past three days, these exchange-traded funds have collectively witnessed net inflows amounting to $301.6 million, marking a consistent pattern of growth as seen on CoinGlass.
On December 26th, ETH saw a total of $117.2 million flow into its funds, with the lion’s share coming from Fidelity’s ETF, contributing approximately $83 million in new investments.
In simpler terms, the iShares Ethereum Trust ETF managed by BlackRock accumulated approximately $28.2 million, whereas Grayscale’s Ethereum trust garnered around $6 million.
Today, Ethereum has dropped approximately 1.7%, now trading below $3,400. In contrast to Bitcoin’s performance over the last two months, Ethereum hasn’t managed to set a fresh record high, while Bitcoin has.
Unlike continuous-trading cryptocurrency ETFs, these investment funds will be closed for trading from December 27th to December 31st, with only three trading days remaining in the current year.
So far during their initial year, Bitcoin ETFs have attracted a total of $35.94 billion in net investments, managing a total value of $111.87 billion.
On the other hand, Exchange-Traded Funds (ETFs) focused on Ether have received approximately $2.63 billion in total investments this year and currently manage assets worth around $12 billion.
X Hall of Flame: Bitcoin $500K prediction, spot Ether ETF ‘staking issue’— Thomas Fahrer
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2024-12-27 09:17