U.S. Bitcoin exchange-traded funds (ETFs) experienced a notable rebound the day after Christmas, reversing a four-day streak of outflows that had drained over $1.5 billion. On December 26, the 11 Bitcoin ETFs combined for net inflows of $475.2 million, with the Fidelity Wise Origin Bitcoin Fund leading the charge, attracting $254.4 million, according to CoinGlass data.
The ARK 21Shares Bitcoin ETF followed closely, securing $186.9 million in inflows, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw a more modest $56.5 million. Grayscale’s mini Bitcoin ETF and VanEck’s Bitcoin ETF also received smaller inflows, totaling $7.2 million and $2.7 million, respectively.
This influx came after a difficult stretch for Bitcoin ETFs, with four consecutive days of net outflows from December 19 to December 24, amounting to $1.52 billion. Notably, IBIT saw its largest-ever single-day net outflow of $188.7 million on December 24, more than doubling its previous record of $72.7 million on December 20.
Despite the outflows, Bitcoin’s price has remained relatively stable, dipping by 2.2% in the last 24 hours to around $96,000, down from approximately $98,000.
Ethereum ETFs Also See Positive Inflows
In addition to Bitcoin ETFs, Ethereum (ETH) ETFs have been seeing their own positive momentum. On December 26, Ethereum funds collectively recorded $301.6 million in net inflows, marking their third consecutive day of positive movement. The Fidelity Ethereum ETF led the charge with $83 million, followed by BlackRock’s iShares Ethereum Trust ETF ($28.2 million) and Grayscale’s Ethereum Trust ($6 million). Ethereum’s price has declined 1.7% over the past day, dipping below $3,400, and it has underperformed Bitcoin in recent months, failing to hit new all-time highs.
2023 ETF Year-End Overview
As 2023 draws to a close, Bitcoin and Ethereum ETFs have shown strong growth. In their first year, Bitcoin ETFs have accumulated $35.9 billion in net inflows and currently have $111.9 billion in assets under management (AUM). Ethereum ETFs, on the other hand, have seen $2.63 billion in net inflows, with $12 billion in AUM.
With just three trading days left in the year (December 27, 30, and 31), the focus will shift to how these funds perform in the final stretch of 2023 and into the new year.