tl;dr
The year-end saw significant outflows from Bitcoin exchange-traded funds (ETFs), with a combined outflow of $426.13 million on Dec. 30. Fidelity’s FBTC led the withdrawals, losing $154.64 million, followed by Grayscale’s GBTC with $134.5 million outflows. BlackRock’s IBIT, despite its successful lau...
Bitcoin ETFs and Ethereum ETFs Market Summary Bitcoin ETFs record $426M outflows, ending 2024 with market shake-up
Ethereum spot ETFs face outflows, December marks strong month
Bitcoin's stored value hits $1.03 trillion, up 85% since January
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Spot Bitcoin exchange-traded funds (ETFs) are closing the year with significant outflows, highlighting a challenging end to December. On Dec. 30, Bitcoin ETFs recorded a combined outflow of $426.13 million. Fidelity’s FBTC led the withdrawals, losing $154.64 million in assets, while Grayscale’s GBTC followed with $134.5 million in outflows. BlackRock’s IBIT, which is widely hailed as having the “greatest launch in ETF history in 2024,” experienced its tenth outflow since launch, shedding $36.52 million. Grayscale Bitcoin Mini Trust lost $31.73 million, Bitwise’s BITB saw $31.37 million withdrawn, and ARK 21Shares’ ARKB experienced $26.4 million in outflows. Valkyrie’s BRRR fund recorded a smaller outflow of $10.96 million. According to SoSoValue data, these withdrawals followed $387 million in net outflows during the preceding Christmas week, marking the most significant decline since September. Despite these setbacks, cumulative net inflows for Bitcoin ETFs reached $35.24 billion this year, with total assets under management at $106 billion, equivalent to 5.6% of Bitcoin’s market capitalization. The Bitcoin price also reflected the market’s year-end sentiment, dropping to a monthly low of $91,392 before recovering slightly to $94,125 as of press time, according to CryptoSlate’s data.
ETH ETF JOINS TREND
Spot Ethereum ETFs also faced outflows on Dec. 30, with $55.41 million withdrawn from nine funds. This marked the end of a four-day inflow streak for the financial instruments. Fidelity’s FETH fund saw the highest outflows, with $20.41 million withdrawn. It was followed by Grayscale’s ETHE and Mini Ethereum Trust, which recorded outflows of $17.36 million and $13.75 million, respectively. Franklin Templeton’s EZET fund experienced smaller losses of $3.88 million. Meanwhile, other Ethereum ETFs, such as BlackRock’s ETHA, Bitwise ETHW, and VanEck’s ETHV, reported no changes in asset flows on the same day. Despite this recent pullback, December remains a strong month for Ethereum spot ETFs. The products collectively gained over $2 billion in net monthly inflows, making it their best-performing month since launching in July. This trend reflects sustained investor interest in Ethereum-based financial products.