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Reading: Spot Bitcoin and Ethereum ETFs Experience Significant Movements on December 19
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COINTURK NEWS > Cryptocurrency News > Spot Bitcoin and Ethereum ETFs Experience Significant Movements on December 19
Cryptocurrency News

Spot Bitcoin and Ethereum ETFs Experience Significant Movements on December 19

In Brief

  • Spot Bitcoin ETFs saw record outflows on December 19, totaling 680 million dollars.

  • Ethereum ETFs ended an 18-day inflow period with a net outflow of 60.4677 million dollars.

  • Market volatility and year-end adjustments contributed to these significant movements.

Fatih Uçar
Fatih Uçar 6 months ago
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On December 19, spot Bitcoin $104,372 and Ethereum $2,516 ETFs experienced remarkable movements. A total of 680 million dollars was withdrawn from spot Bitcoin ETFs in a single day, marking the highest single-day outflow in history. Additionally, spot Ethereum ETFs saw a net outflow of 60.4677 million dollars on the same date, ending an 18-day streak of continuous net inflows.

Contents
Record Outflows from Spot Bitcoin ETFsEnd of Inflow Period for Ethereum ETFs

Record Outflows from Spot Bitcoin ETFs

The date of December 19 became a significant turning point for spot Bitcoin ETFs. The net outflow of 680 million dollars signals widespread activity among investors. Previous outflows were recorded at 563 million dollars on May 1 and 541 million dollars on November 4, but this recent outflow far surpassed those earlier records.

Market conditions, including global economic uncertainties and market volatility, are believed to have influenced this movement. Furthermore, this outflow followed a 15-day period of uninterrupted inflows into spot Bitcoin ETFs.

End of Inflow Period for Ethereum ETFs

Spot Ethereum ETFs also underwent a notable shift. The net outflow of 60.4677 million dollars indicates that investors are making strategic changes. This development concluded an 18-day period of continuous inflows.

The recent steady performance of Ethereum is now being questioned due to this outflow. Experts suggest that this situation may be related to volatility in the Ethereum market. Additionally, year-end balance sheet adjustments by investors might have triggered this movement.

Overall, the outflows from spot Bitcoin and Ethereum ETFs highlight investor behaviors within the cryptocurrency market. These developments clearly showcase the fluctuating nature of trends in the sector and the impact of global markets.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 20 December, 2024 - 10:14 am 20 December, 2024 - 10:14 am
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