Spot Bitcoin ETFs See Significant Outflows

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Significant outflows are experienced by spot Bitcoin exchange traded funds (ETFs) as 2024 draws to a close, with a reported $426 million withdrawn on December 30. The total withdrawals over two days now equal $723 million, continuing a downward trend.

These outflows are part of a larger trend with Bitcoin ETFs experiencing over $1.5 billion in total outflows within just four days leading up to this report, largely caused by market volatility and investor reevaluation strategies amid decreasing Bitcoin prices.

At the time of reporting, the price of Bitcoin has somewhat recovered to roughly $94,125 after plunging to a monthly low of about $91,392.

In spite of recent setbacks, a total of $35.24 billion in net inflows throughout the year have been accumulated, maintaining total assets under management at about $106 billion, which accounts for around 5.6% of overall market capitalization of Bitcoin.

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