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Bitcoin ETF

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<p>The U.S. spot Bitcoin exchange-traded funds (ETFs) showed different trends this week, first beginning the week with record inflow before witnessing massive outflow later.</p>
<p>According to the data compiled by Bitcoin Magazine, U.S. spot Bitcoin ETFs together bought 4,349.7 BTC worth $423.6 million as Bitcoin’s price was going down. In the same period, Bitcoin mining produced 2,250 BTC, meaning there is very strong demand for Bitcoin.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="536" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Spot-Bitcoin-ETFs-saw-423m-inflow-this-week-536x484.png" alt="Spot Bitcoin ETFs saw $423m inflow this week" class="wp-image-225282">
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   Spot Bitcoin ETFs saw $423m inflow this week | Source: <a href="https://x.com/NikolausHoff/status/1870487847976702119" target="_blank" rel="noopener noreferrer nofollow">X</a>
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 </figure>
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<p>Bitcoin’s price rose early in the week to a peak of above $108,000 on December 17 as investors were feeling good and awaiting a rate cut from the Federal Reserves. Bitcoin reached its all-time high of $108,000 by mid-week before it started to slide drastically. On December 19, Bitcoin went to $93,145.17, falling 9.2% in just 24 hours. That triggered a market sell-off and led to $1 billion in liquidations in the cryptocurrency market.</p>
<p>Spot Bitcoin ETFs had their biggest loss on December 19, losing $671.9 million in total assets, according to Farside Investors. Grayscale’s GBTC had the most losses with $208.6 million leaving, followed by ARK Invest’s ARKB, which lost $108.4 million.</p>
<p>BlackRock’s iShares Bitcoin Trust (IBIT) remained flat, with neither any inflows or outflows during the period. <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">Sosovalue</a> data indicated that the total net assets of Bitcoin ETFs went to $109.7 billion on Dec. 20, down from $121.7 billion three days prior.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="860" height="407" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Bitcoin-ETF-inflow-and-outflow-from-Dec.-16-to-date-860x407.png" alt="Bitcoin ETF inflow and outflow from Dec. 16 to date" class="wp-image-225283">
  <figcaption class="wp-element-caption">
   Bitcoin ETF inflow and outflow from Dec. 16 to date | Source: <a href="https://farside.co.uk/btc/" target="_blank" rel="noopener noreferrer nofollow">Farside</a>&nbsp;
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 </figure>
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<p>Despite the sell-off, Bitcoin rebounded on Dec. 20, briefly crossing $99,000 before stabilizing at $98,500.&nbsp;</p>
<p>Ethereum spot ETFs also saw net outflows of $75.12 million on Dec 20, according to <a href="https://x.com/WuBlockchain/status/1870386198075920610" target="_blank" rel="noopener noreferrer nofollow">Wublockchain</a> on X. The Ethereum price rebounded mid-week, rising above $3,500 after falling to around $3,300 previously. The wider crypto market has also begun to show signs of recovery, with altcoins BNB, SOL, and ADA up between 5% and 6% in a day.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/12/21/bitcoin-will-pay-off-35-trillion-dollar-debt-donald-trump/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Will Pay off 35 Trillion Dollar Debt: Donald Trump</a></p>
</blockquote>

US Spot Bitcoin ETFs Record $423M this Week

The Crypto Times

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