On December 30, spot Bitcoin exchange-traded funds in the United States continued to face significant outflows, with Bitcoin staying below the $93,000 mark.
As per SoSoValue’s data, the 12 spot Bitcoin ETFs experienced outflows totaling $426.13 million on December 30, marking two consecutive days of outflows with a combined total of $723.8 million exiting the funds.
Fidelity’s FBTC led the day with the highest outflows, witnessing $154.64 million withdrawn, while Grayscale’s GBTC recorded an outflow of $134.5 million.
Other funds also reported notable outflows, including BlackRock’s IBIT, Grayscale Bitcoin Mini Trust, Bitwise’s BITB, and ARK 21Shares’s ARKB, which saw outflows of $36.52 million, $31.73 million, $31.37 million, and $26.4 million, respectively.
Valkyrie’s BRRR also experienced modest outflows of $10.96 million for the day. Notably, no BTC ETFs recorded any inflows.
The total trading volume for the 12 ETFs was $3.14 billion on December 30, a slight increase from the $3.02 billion seen the day before.
The substantial outflows occurred as Bitcoin (BTC) struggled to hold above the $95,000 key support level as identified by analysts. This decline heightened the risk of further price drops, potentially down to $60,000.
The largest cryptocurrency in the market is currently down by 1%, trading at $92,458 per coin as of this writing.
Outflows Begin for Ether ETFs
The nine spot Ethereum funds also saw outflows on December 30, with $55.41 million exiting the funds, ending a four-day inflow streak that had totaled $349.1 million.
Fidelity’s FETH led the group with outflows of $20.41 million, while Grayscale’s ETHE and mini Ethereum Trust reported outflows of $17.36 million and $13.75 million, respectively. Franklin Templeton’s EZET had a smaller outflow of $3.88 million on the day.
The total trading volume for these Ethereum investment products amounted to $336.26 million on December 30, slightly higher than the $324.32 million recorded the previous trading day. The overall net inflows for these ETFs reached $2.62 billion since their launch.
The spot ETH ETFs achieved a significant milestone in December, surpassing $2 billion in cumulative net inflows for the month. This figure nearly doubles the inflows of over $1 billion seen in November, according to data from Farside Investors.
Despite the exceptional inflows this month, Ether (ETH) has struggled to escape its ongoing downtrend. The largest altcoin has fallen by 9% over the month, trading at $3,353 as of this writing.
