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On December 25th, the US spot ETF market experienced a wave of collective net outflows. According to the latest data, Bitcoin and Ethereum spot ETFs together recorded a total net outflow of $228 million on that day, with Bitcoin spot ETFs facing particularly significant pressure.
**Bitcoin Spot ETF: 5 Consecutive Days of Net Outflows**
Yesterday, Bitcoin spot ETFs saw a single-day net outflow of up to $175 million, marking the fifth consecutive trading day of capital outflows. More notably, during this trading day, none of the Bitcoin spot ETF products experienced a net inflow of funds.
The largest outflow was from BlackRock's IBIT, with a single-day net outflow of $91.37 million (equivalent to 1,040 BTC). Despite this, the fund has accumulated a total of $62.25 billion in assets. Following that, Grayscale's GBTC ranked second with a net outflow of $24.62 million (281.22 BTC), and FID's FBTC and Bitwise's BITB recorded single-day net outflows of $17.17 million (196.09 BTC) and $13.32 million (152.15 BTC), respectively.
Additionally, products like Ark&21Shares' ARKB, VanEck's HODL, Grayscale's BTC, and Franklin's EZBC also experienced net outflows yesterday, amounting to $9.88 million (112.89 BTC), $8.05 million (91.91 BTC), $5.81 million (66.34 BTC), and $5.06 million (57.85 BTC), respectively.
Overall, the total net asset value of Bitcoin spot ETFs has reached $113.89 billion, accounting for 6.51% of the total Bitcoin market capitalization. Since inception, these funds have accumulated a net inflow of $56.9 billion.
**Ethereum Spot ETF: 2nd Consecutive Day of Net Outflows**
In contrast, the pressure on Ethereum spot ETFs is equally notable. Yesterday, this sector experienced a net outflow of $52.7 million, marking the second consecutive day of net outflows this week.
Grayscale's ETHE remains the main contributor to outflows, with a single-day net outflow of $33.78 million (corresponding to 11,470 ETH). Notably, since its launch, ETHE has accumulated a net outflow of $5.08 billion, reflecting ongoing redemption pressures faced by this product.
BlackRock's ETHA saw a net outflow of $22.25 million (7,560 ETH) yesterday, but its cumulative net inflow still reached $12.62 billion. Among many Ethereum spot ETFs, Grayscale's ETH is the only product to achieve a net inflow, with a single-day net inflow of $3.33 million (1,130 ETH). However, the fund remains in a net outflow status of $5.08 billion overall.
In terms of scale, the total net asset value of Ethereum spot ETFs is $17.86 billion, accounting for 5.03% of Ethereum's total market capitalization. Since inception, the cumulative net inflow has reached $12.38 billion.
This wave of capital adjustment reflects market participants' cautious attitude towards the current macro environment and the trend of crypto assets.
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Grayscale is redeeming again, ETHE is still paying off debt
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Although BlackRock IBIT has the largest outflow, its total assets still surpass other products
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Everyone is running before Christmas, this pace is a bit hurried
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Ethereum only outflowed over 50 million, Bitcoin's pressure is truly greater
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Everyone is experiencing net outflows, is it going to fall or just oscillate
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This macro environment has really scared the big players
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GBTC is still bleeding, indicating that institutions haven't made up their minds yet
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Net outflow is net outflow, anyway I’m not moving my holdings
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A bit anxious, but mostly waiting for a low point to buy again
Looking at Gray's ETHE with a cumulative outflow of over 5 billion, this is probably a sign of trust erosion.
Although BlackRock's IBIT had a single-day outflow of 90 million, with a total size of over 60 billion, it somewhat acts as a ballast for the market.
The rise and fall of ETFs are actually part of on-chain records; someday, when this data is retrieved, it can reveal the psychological changes in the entire ecosystem.
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Grayscale is really impressive, with ETHE having a total outflow of $5.08 billion, and still daring to boast?
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Another Christmas Eve mass exodus...
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BlackRock's IBIT can still attract so much money, oh my
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This rhythm feels off, it seems like a change is coming
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ETH spot ETF is also starting to relax, it's uncomfortable
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All BTC spot ETFs haven't had positive income? Haha, interesting
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Another "cautious attitude," in other words, they're scared
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Grayscale GBTC is the second largest outflow... Are they admitting defeat?
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Wait, ETHA still has accumulated inflows of $12.62 billion, impressive
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Grayscale is bleeding again, ETHE has a total outflow of over 5 billion, it's outrageous.
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Although BlackRock's IBIT is bleeding daily, its foundation is still very solid, at 62.25 billion.
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Are all institutions clearing out on Christmas Day? Shouldn't they be on holiday lol
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Ethereum ETF only outflowed 52.7 million, less than a fraction of Bitcoin's, why is the difference so big?
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Looking at this trend, it's really a cautious attitude. What is the market digesting?
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GBTC is still continuously releasing, Grayscale is trying to drain everything.
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All are net outflows? Not a single product could handle that day, what kind of signal is this?
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BlackRock's capital-raising ability is still top-notch, even with a single-day outflow of over 90 million, it can withstand it.
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This week, ETH spot ETF has been flowing out for two days in a row, it feels like the enthusiasm is really waning.
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IBIT still the leader with over 90 million USD invested, BlackRock's move is steady
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Grayscale ETHE has a total outflow of 5.08 billion USD, is it not over yet?
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End of the year, everyone is fleeing, truly impressive
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ETH is also starting to break defenses, shall we look at the bottom together?
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All products are in the red, this momentum is a bit fierce
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Wait, is BlackRock ETHA still holding? Something's not right
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It's the macro environment again, every time there's a loss, it's the same explanation
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For the 5th day in a row, the sellers have collapsed
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Is this what they call a "cautious attitude"? Haha