- Bitcoin and Ethereum ETFs experienced significant outflows on December 30, totaling nearly half a billion dollars.
- Fidelity’s FETH saw the most outflows among Ethereum ETFs, with $20.4 million leaving the fund.
- Ethereum ETFs have fared better over the week, registering inflows on five out of the last seven days.
Bitcoin exchange-traded funds experienced significant outflows on December 30, as investors prepared for the end of the year. Nearly all ETFs recorded withdrawals, totaling almost half a billion dollars.
Blackrock’s IBIT saw $36.5 million leaving the fund on December 30, a stark contrast to the previous trading day, which had $80 million in inflows. On a weekly basis, IBIT experienced $129 million in outflows.
Fidelity’s FBTC had the highest outflows on December 30, with $154.6 million leaving the fund. This significant amount raises concerns, as Fidelity had already registered $208 million in outflows the previous day.
In total, all ETFs combined saw $415 million in outflows, the largest single-day outflow since December 19. Minor exchange-traded funds like ARKB, BITB, and GBTC also registered outflows.
Ethereum ETFs Also Registering Outflows
Meanwhile, Ethereum-based exchange-traded funds also registered withdrawals on December 30. Fidelity’s FETH saw the most outflows with $20.4 million leaving the fund. Franklin EZET and both Grayscale Ether ETFs also saw withdrawals, totaling up to $55.5 million outflows across all Ethereum ETFs.
Ethereum ETFs have faired batter over the week, registering inflows on five out of the last seven days. While the common misconception is that these ETFs weren’t able to draw enough public attention as Bitcoin ETFs, Ethereum sits at an interesting inflection point heading into 2025.
With the massive surge in the cryptocurrency market seen in 2024, Grayscale believes that the next year will be marked by an “arms race” in smart contract developments, an area in which Ethereum is already a frontrunner.
Grayscale notes that Ethereum’s recent advancements have solidified its position as a market leader. Making the blockchain project an interesting one to keep an eye on in 2025.
