Summary:
BlackRock’s Bitcoin ETF experienced a significant outflow of funds, totaling over $1.5 billion in just four days, with record outflows on Christmas Eve. This trend of outflows was also observed in other US Bitcoin funds. Conversely, Ethereum ETFs saw consecutive days of inflows leading up to Christmas.
Key insights:
1. BlackRock’s Bitcoin ETF faced record outflows, contributing to a total outflow of $1.5 billion across US Bitcoin funds in four days.
2. Ethereum ETFs experienced inflows in contrast to Bitcoin outflows, with two consecutive days of inflows before Christmas.
3. The AUM of US Bitcoin ETFs surpassed gold funds for the first time on Dec. 16, indicating a growing interest in Bitcoin investments.
4. Analysts suggest that Ethereum may outperform Bitcoin in the future, with Ether’s relative strength to Bitcoin currently at 0.035.
5. Overall, the cryptocurrency market is witnessing dynamic shifts in investor sentiment and asset flows.
