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News

Bitcoin Spot ETF Outflows Reach $426M Over Two Days

December 31, 2024 - Around 2 mins mins to read

Key Points:

  • Bitcoin Spot ETF outflows totalled $426M over two days, with GBTC experiencing $135M daily outflows.
  • Ethereum spot ETFs marked $55.4M net outflows after four days of inflows.
Bitcoin Spot ETF outflows hit $426M over two days, with Grayscale’s GBTC seeing daily losses of $135M. Ethereum spot ETFs reported a $55.4M net outflow.
Bitcoin Spot ETF Outflows Reach $426M Over Two Days

Bitcoin Spot ETF Outflows Surge to $426M Over Two Days

The Bitcoin Spot ETF saw extreme net outflows of $426 million in two consecutive days, as recorded on December 30. Grayscale‘s GBTC contributed heavily with $135 million in daily outflows. This trend underlines growing concern in the crypto market, signalling a shift in investor sentiment during volatile conditions, according to Sosovalue.

Grayscale’s GBTC, with its historical net outflow now at $21.487 billion, remains the leader in these losses. While Bitcoin ETFs usually attract long-term investors, recent outflows reflect short-term market pressures. Analysts say this may be either a correction phase or temporary withdrawal before renewed bullish momentum.

Read more: Bitcoin Spot ETF Outflows Reach $388M Amid Weekly Trends

Ethereum ETFs Record $55M Net Outflows Amid Market Shifts

Ethereum spot ETFs saw $55.4 million of net outflows on Dec. 30, breaking four days of consecutive inflows. Grayscale’s ETHE was the greatest contributor to this decline at a daily outflow of $17.3 mln. This raises interesting questions about the resilience of Ethereum-focused investment products at a time when markets were in turmoil.

Investors have started reassessing Ethereum spot ETFs with the ongoing market correction, while the outflows present cautious sentiment despite decent ETH fundamentals. This could be an increasingly favourable time for value hunters in the market, particularly given the improving staking reward structure and Layer 2 adoption of Ethereum.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.