The U.S. Bitcoin spot exchange-traded fund (ETF) experienced withdrawals for four days in a row, with notable outflows occurring on Christmas Eve.
Data from SoSovalue as of December 24 showed a total outflow of $338.4 million from ETFs on Christmas Eve.
BlackRock’s iShares Bitcoin ETF led the decline, recording the largest daily outflow of $188.7 million. Fidelity’s Bitcoin ETF recorded $83 million in withdrawals, while Ark and 21Shares’ Bitcoin ETFs recorded net outflows of $75 million.
Bitwise’s BITB fund was the only ETF to record positive net inflows, adding $8.5 million. The remaining funds were inactive during the day.
Meanwhile, after a sustained positive trend, the outflow represents a notable reversal. Over the past four trading days, Bitcoin ETFs have recorded cumulative outflows of over $1.5 billion, representing the most severe decline since the November election that returned Donald Trump to the White House.
Despite current trends, the ETF’s cumulative flows are $35.49 billion and it holds $110 billion worth of digital assets.
Steady inflow of Ethereum
While Bitcoin ETFs have struggled over the past few days, Ethereum-focused spot ETFs have continued to attract investor attention.
Data from SoSoValue shows that ETH-related investment vehicles saw net inflows of $53.5 million, with BlackRock’s Ethereum fund leading the way with inflows of $43.9 million. Bitwise’s Ethereum ETF saw inflows of $6.2 million, while Fidelity’s Ethereum product added $3.45 million.
Launched last July, the Ethereum fund has steadily gained traction in the market despite initial performance lagging compared to Bitcoin ETFs.
However, the inflow has been decreasing for 18 consecutive days, but is gradually decreasing and showing an upward trend again.
Analysts at Matrixport explained that these continued inflows highlight Ethereum’s continued appeal among institutional investors and strengthen its position as a key digital asset in the cryptocurrency ecosystem.
As of December 24, the total flow of Ethereum funds was $2.51 billion.