Bitcoin and Ethereum ETFs Witness Significant Outflows on Dec. 30

Spot Bitcoin exchange-traded funds in the United States experienced substantial outflows on Dec. 30, with the 12 funds recording a total of $426.13 million in outflows. This marks the second consecutive day of outflows, resulting in a total of $723.8 million leaving the funds.

Breakdown of Outflows in Bitcoin ETFs

Fidelity’s FBTC saw the highest outflows of the day, with $154.64 million withdrawn from the fund. Grayscale’s GBTC followed closely, with an outflow of $134.5 million. Other notable outflows were seen in BlackRock’s IBIT ($36.52 million), Grayscale Bitcoin Mini Trust ($31.73 million), Bitwise’s BITB ($31.37 million), and ARK 21Shares’s ARKB ($26.4 million). Valkyrie’s BRRR also experienced a modest outflow of $10.96 million.

Bitcoin Price Movement

The significant outflows in Bitcoin ETFs came as the cryptocurrency failed to maintain its key support level of $95,000. This breakdown has increased the risk of the price tumbling further, potentially dropping as low as $60,000. As of press time, Bitcoin is trading at $92,458 per coin, down 1% from its previous value.

Ether ETFs Also Experience Outflows

The nine spot Ethereum funds also faced outflows on Dec. 30, with a total of $55.41 million leaving the funds. Fidelity’s FETH led the way with outflows of $20.41 million, followed by Grayscale’s ETHE and mini Ethereum Trust, which saw outflows of $17.36 million and $13.75 million, respectively.

Ether Price Movement and Monthly Milestone

Despite the record outflows over the month, Ether has been unable to break free from its current downtrend. The largest altcoin is down 9% on the monthly chart, trading at $3,353 at press time. However, the spot ETH ETFs achieved a new monthly milestone, surpassing $2 billion in cumulative net inflows in December. This figure nearly doubles November’s inflows, which totaled just over $1 billion.

For more news and updates on the cryptocurrency market, visit Global Crypto News.

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