Net inflows from the Bitcoin ETF in the United States recorded three consecutive days of outflows before Christmas. Furthermore, these ETFs set single-day outflow records, temporarily weakening Bitcoin’s rally.
However, Ethereum ETFs in the US show positive signs with net inflows.
Bitcoin ETF Sees Net Outflows Three Days in a Row
Data from SoSoValue shows that the Bitcoin ETF has experienced an outflow of nearly $1.2 billion over the last three trading sessions. Notably, December 19 saw outflows reach $680 million, the highest in a single day since the Bitcoin ETF was approved.
“Such a significant outflow raises the question of whether this is just profit taking or a structural shift in capital. The most likely explanation at this stage is profit taking, but it is worth monitoring market sentiment and institutional moves for confirmation.” Investor Antonio Zennaro comment.
Previously, the Bitcoin ETF recorded 15 consecutive days of net capital inflows, pushing total net assets from $100 billion to $121 billion. However, the recent three-day outflows contributed to a drop in total net assets to $105 billion.
Data from Coinglass reveals that Grayscale’s GBTC was the main contributor to the outflow, with 1,870 BTC sold in the last three trading sessions. That outpaces purchases from BlackRock’s IBIT over the same period.
Despite the three-day net outflow, investor optimism towards Bitcoin remains strong. In December, the Bitcoin ETF surpassed the Gold ETF in assets under management (AUM), signaling a growing confidence in the digital asset from both institutional and individual investors.
Interestingly, while money flowed from the Bitcoin ETF, the Ethereum ETF saw inflows during the trading session on December 23. Although the Bitcoin ETF experienced outflows of $226 million, the Ethereum ETF saw inflows. attracted more than 130 million USD in capital. Additionally, BlackRock’s Ethereum ETF currently holds over 1,000,000 ETH.
Many investors believe this could signal positive momentum for Ethereum and other altcoins, especially after Ethereum’s price dropped from $4,100 to nearly $3,100 in December.
“BlackRock’s Ethereum ETF currently holds over 1,000,000 ETH. This data, coupled with the fact ETH is still consolidating below all-time highs, is an indicator of an altcoin season like we have never seen before.” Investor Dan Gambardello comment.
