Spot Bitcoin exchange-traded funds in the United States saw outflows for the third day in a row as Bitcoin struggled to recover to $100,000 following the Fed’s hawkish rate cut.
According to data from SosSoValue, the 12 spot Bitcoin ETFs recorded $226.56 million in inflows on December 23, excluding their three-day outflow streak that saw over $1.18 billion leave the funds.
The majority of outflows came from Fidelity’s FBTC, which saw outflows of $145.97 million, while Grayscale’s GBTC followed suit, withdrawing $38.39 million from the fund.
Other BTC ETFs that saw negative inflows include the following:
- Invesco Galaxy’s BTCO: $25.56 million.
- Bitwise’s BITB, $23.75 million.
- ARK and ARKB from 21Shares: $15.75 million.
- Grayscale Bitcoin Mini Trust, $6.18 million.
- VanEck’s HODL, $2.62 million.
BlackRock’s IBIT was the only BTC ETF to buck the trend, with inflows of $31.66 million, bringing total net inflows since launch date to $37.36 billion.
The daily trading volume for these investment products was $3.52 billion on December 23, down from $4.09 billion the previous day. At the time of writing, total net inflows into BTC ETFs stood at $35.83 billion.
Meanwhile, significant outflows recorded on Monday followed Bitcoin (BTC)’s 4% decline from an intraday high of $96,386 to an intraday low of around $92,600 today, indicating a hawkish stance related to the the Federal Reserve’s recent interest rate decision.
On Wednesday, the Federal Reserve made its third straight rate cut but indicated that monetary easing would be slower next year to…
