Tanahub.com — Spot Bitcoin exchange-traded funds (ETFs) in the United States (US) have recorded an outflow of $1.5 billion, or approximately IDR 24 trillion, over the past four days.
According to CoinGlass data, BlackRock’s iShares Bitcoin Trust (IBIT) recorded a new outflow record of $188.7 million on December 24, surpassing the previous record of $72.7 million set on December 20.
The Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF also registered outflows of $83.2 million and $75 million, respectively, on December 24. Meanwhile, the Bitwise Bitcoin ETF was the only one to record an inflow of $8.5 million.
On December 24, all 12 spot Bitcoin ETFs in the US collectively recorded outflows totaling $338.4 million.
Nevertheless, K33 Research revealed that the total net assets, or Assets Under Management (AUM), of Bitcoin ETFs in the US, which reached $129 billion, surpassed the AUM of gold ETFs for the first time on December 16.
This AUM figure includes spot Bitcoin ETFs and ETFs tracking Bitcoin performance through financial derivatives such as futures contracts.
Ether ETFs Begin to Show Strength
On the other hand, spot Ether ETFs in the US have seen strong inflows over the past two days. Ether ETFs added $53.6 million in inflows on December 24, following $130.8 million recorded on December 23.
Launched in July, Ether ETFs were initially considered to have a slower start compared to the strong momentum seen during the launch of spot Bitcoin ETFs in January.
However, since late November, Ether ETFs have shown significant growth, recording inflows for 18 consecutive days until December 18. Now, Ether ETFs are back in the inflow trend.
TradingView data shows the relative strength ratio of Ether to Bitcoin (ETH/BTC ratio) is at 0.035. Some analysts predict Ether will outperform Bitcoin by January 2025.
At the time of writing, CoinMarketCap data indicates that Bitcoin is trading at $98,125, up 4.38% over the past 24 hours, while Ether is trading at $3,476, up 2.43% during the same period.