|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Bitcoin Exchange-Traded Funds (ETFs) in the U.S. Are Losing Funds as BTC Price Drops Below $93,000
Dec 24, 2024 at 05:58 pm
According to SosoValue, BTC ETFs recorded $226.56 million in inflows on Dec. 23. However, this followed three days of heavy outflows totaling $1.18 billion.
U.S. Bitcoin exchange-traded funds (ETFs) are seeing varied flows as BTC prices hover below $93,000.
After three days of outflows, BTC ETFs saw a collective outflow of $1.18 billion on Dec. 23 as BTC prices dropped to $92,600. The outflows were largely driven by Fidelity's FBTC, which saw outflows of $145.97 million, followed by Grayscale's GBTC with outflows of $38.39 million.
Other ETFs that saw outflows on Friday included:
Meanwhile, BlackRock's IBIT was the only ETF to see inflows on Friday, with inflows of $31.66 million. Since its launch, IBIT has seen a total of $37.36 billion in net inflows.
BTC prices fell 4% on Dec. 23, dropping from $96,386 to $92,600. At press time, BTC trades at $94,436.
The price has fallen by 11.9% in the past week. The outflows come as the Federal Reserve raised its interest rates by 50 basis points on Friday. The move, which is aimed at curbing inflation, also appeared to dampen enthusiasm in the crypto market.
While many investors had anticipated a more aggressive rate cut, the anticipation—which was largely fueled by Trump's crypto-friendly policies and support for a national Bitcoin reserve—appeared to be tempered by the Federal Reserve's stance and concerns over inflation.
In other news, Ethereum ETFs saw a collective inflow of $130.76 million on Dec. 23, breaking a two-day outflow streak that saw a total of $135.4 million in outflows.
The inflows were led by BlackRock's ETHA, which saw inflows of $89.51 million, followed by Fidelity's EFTH with inflows of $46.37 million. Other inflows included:
However, the inflows were largely offset by outflows from Grayscale Ethereum Mini Trust, which saw outflows of $6.09 million. The other ETFs remained largely neutral. Meanwhile, ETH trades at $3,412, up by 3.3% in the past 24 hours.
The total trading volume for BTC ETFs on Friday was $3.52 billion, down from $4.09 billion on Thursday. BTC ETFs have now seen a total of $35.83 billion in net inflows.
The outflows from Bitcoin ETFs come as prices have fallen by nearly 12% in the past week, while Ethereum ETFs have seen inflows for two days in a row. This highlights the shifting investor sentiment, with greater interest in ETH compared to BTC.
Key Points for Bitcoin ETF Investors
BTC ETF outflows continue as prices hover below $100,000.
Next, Ethereum gains momentum with inflows highlighting growing interest in ETH.
Additionally, macro factors impact crypto as Federal Reserve policies shape market sentiment.
Finally, volatility remains high with both Bitcoin and Ethereum facing rapid price changes.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Dogecoin Price Forecast: Aiming For $3, But ETFSwap (ETFS) Is The Bigger Story
- Dec 25, 2024 at 10:40 am
- Dogecoin price forecasts remain bullish, with DOGE rallying on growing investor optimism and increased whale accumulation. This meme-based cryptocurrency has a proven ability to captivate the market, spurred by social media trends and high-profile endorsements. DOGE’s potential to reach $3 is bolstered by improved blockchain utility and the ongoing rise in crypto adoption.
-
- XRP, Dogecoin and Bitcoin Price Analysis: Which Way to Trade
- Dec 25, 2024 at 10:40 am
- The XRP chart shows a descending flag pattern, indicating that the asset has entered a critical phase. Dogecoin is presently trading close to $0.318 and is at a pivotal moment on the market. According to recent price movements, Bitcoin is getting closer to the 50 EMA, a crucial support level.
-
- Lightchain AI (LCAI) Has the Potential to Replicate Solana's Incredible Rise. Here's Why It's Turning Heads
- Dec 25, 2024 at 10:40 am
- Unlike many tokens, Lightchain AI's unique approach, including its Proof of Intelligence consensus mechanism and Artificial Intelligence Virtual Machine, positions it as a promising player in the crypto space, offering real-world utility beyond speculation.
-
- Powell vs. Trump on Bitcoin Reserve: Analysts Claim the Federal Reserve Cannot Stop Donald Trump from Creating a Strategic Bitcoin Reserve in the U.S.
- Dec 25, 2024 at 10:30 am
- Last week, Powell's remarks, delivered during a press briefing following the Fed's latest monetary policy meeting, caused significant turbulence in the crypto market.
-
- PEPE: The Meme Coin Revolution on Binance! 🐸
- Dec 25, 2024 at 10:30 am