Bitcoin and Ethereum ETFs Record Inflows Amid Market Downturn

Both spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced inflows on December 31, following a significant market downturn that saw both assets incur substantial losses.

Bitcoin ETF Inflows

According to recent data, the 12 spot Bitcoin ETFs logged a net inflow of $5.32 million on Tuesday, marking the end of a two-day outflow streak that saw over $723 million exit the funds.

The majority of inflows were directed towards Fidelity’s FBTC, which saw $36.81 million enter the fund. Bitwise’s BITB and Grayscale Bitcoin Mini Trust also contributed to the positive momentum with inflows of $8.68 million and $4.14 million, respectively.

However, these inflows were partly offset by BlackRock’s IBIT, which saw outflows for the second consecutive day, with $23.45 million exiting the fund. ARK 21Shares’s ARKB and Grayscale’s GBTC also logged outflows of $11.23 million and $9.63 million, respectively. The remaining six BTC ETFs remained neutral on the day.

Trading Volume and Bitcoin Price

The daily total trading volume for these investment products stood at $2.25 billion on December 31, significantly lower than the $3.14 billion recorded the previous day. At press time, Bitcoin was up 1.1% over the past day, exchanging hands at $93,545 per coin.

Ethereum ETF Inflows

Meanwhile, the nine spot Ethereum ETFs experienced a strong rebound on December 31, with $35.93 million flowing into the funds after a previous day of outflows totaling $55.41 million.

Fidelity’s FETH led the day’s inflows with $31.77 million entering the fund, while the Grayscale Ethereum Mini Trust recorded an inflow of $9.77 million. Grayscale’s ETHE partially offset the inflows with an outflow of $5.61 million, while the remaining Ether ETFs recorded no activity for the day.

Ethereum was down 0.5% over the past 24 hours, trading at $3,337.

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