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Reading: Bitcoin and Ethereum ETFs Experience Distinct Market Movements
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COINTURK NEWS > Cryptocurrency News > Bitcoin and Ethereum ETFs Experience Distinct Market Movements
Cryptocurrency News

Bitcoin and Ethereum ETFs Experience Distinct Market Movements

In Brief

  • Bitcoin ETFs faced substantial outflows, indicating a shift in investor sentiment.

  • Ethereum ETFs showed significant inflows, demonstrating rising investor confidence.

  • This divergence highlights differing market strategies among cryptocurrency investors.

Fatih Uçar
Fatih Uçar 1 year ago
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On December 24, 2024, significant inflows and outflows were observed in Bitcoin (BTC) $91,081 and Ethereum (ETH) $3,094 based spot ETFs in the United States. Bitcoin ETFs recorded net outflows, while Ethereum ETFs stood out with net inflows.

Remarkable Outflows in Bitcoin ETFs

According to data, there was a total net outflow of 338 million from spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust ETF experienced the largest outflow with a decrease of 1,989 BTC (approximately 188.7 million dollars). Currently, the total assets of this ETF amount to 521,181 BTC (around 51.3 billion dollars).

Contents
Remarkable Outflows in Bitcoin ETFsEthereum ETFs Gain Attention with Inflows
Spot Bitcoin ETFs

The Fidelity Wise Origin Bitcoin Fund also attracted attention with an outflow of 877 BTC (approximately 83.2 million dollars). Its total assets have decreased to 196,941 BTC, which is equivalent to 19.3 billion dollars. Additionally, the ARK 21Shares Bitcoin ETF reported an outflow of 791 BTC (about 75 million dollars) and currently holds 44,567 BTC (4.36 billion dollars).

Ethereum ETFs Gain Attention with Inflows

In contrast to the outflows in Bitcoin ETFs, spot Ethereum ETFs displayed a positive picture. Ethereum recorded a total net inflow of 53 million, with the majority coming from BlackRock, which led with an inflow of 43 million dollars. Bitwise also contributed significantly with an inflow of 6.2 million dollars into spot Ethereum ETFs.

The data indicates a notable divergence in the cryptocurrency ETF market as the year ends. While Bitcoin investors are leaning towards sales, Ethereum investors are increasing their market interest. This volatility before the new year suggests varied strategies in the cryptocurrency market.

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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 25 December, 2024 - 12:14 pm 25 December, 2024 - 12:14 pm
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