As the calendar year comes to a close, Bitcoin ETFs have reached their lowest weekly performance in three months. Between December 23 and December 27, these crypto-based investment products faced considerable outflows, marked by three days of declines last week.<\/p>\n
The week began for BTC ETFs with a negative net flow of $564.94 million during the first two days, although there was a brief rebound on December 26. Following a momentary Christmas surge where Bitcoin climbed to the $98,000-$99,000 range, the ETFs saw an inflow of $475.5 million, their strongest daily performance since the recent downturn began.<\/p>\n
However, a set of outflows totaling $297.75 million on Friday reversed this positive trend, resulting in total outflows of $862.69 million for the week. Consequently, Bitcoin ETFs ended up with a net negative volume of $387.54 million for the last week of 2024.<\/p>\n
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Fidelity\u2019s FBTC was the greatest loser, facing $208 million in outflows on Friday, marking its second-worst single-day performance this month. BlackRock\u2019s IBIT followed closely, suffering a negative net flow of $188.7 million.<\/p>\n
In contrast, ARK 21Shares\u2019s ARKB reported the second-highest inflows in the past week, closing with $186.9 million. Additionally, FBTC had a standout day earlier in the week, achieving its highest performance with inflows of $254.4 million on Thursday.<\/p>\n
<\/span>A Record Year for ETFs<\/span><\/h2>\nIt’s important to highlight that these investment products have been facing substantial outflows for two weeks, interrupting a prior 15-day streak of inflows that boosted BTC ETFs’ total net assets from $100 billion to $120 billion.<\/p>\n
According to ETF expert and Bloomberg analyst Eric Balchunas, the net assets of spot Bitcoin ETFs were approaching $128 billion<\/a> by December 17, indicating an \u201cunreal\u201d level of performance for crypto-based products just 11 months into their existence.<\/p>\nData from SoSoValue indicates that total outflows from Bitcoin ETFs have exceeded $1.8 billion, bringing total net assets down to $106.68 billion since the downturn began.<\/p>\n
Despite this recent downturn, Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors, described the global ETF industry as concluding its best year ever<\/a> in an interview with FOX Business. <\/p>\nThe report emphasized the increase in active funds and the strong demand for new crypto-focused investment products. Sumit Roy, a senior ETF analyst for ETF.com, noted that the launch of new ETFs contributed to the year\u2019s impressive performance.<\/p>\n
\n\u00a0Another reason has to do with the launch of crypto ETFs. You\u2019ve seen Spot Bitcoin ETFs now pop up in January; inflows have just been insane.<\/p>\n<\/blockquote>\n
Balchunas earlier remarked that BTC ETFs serve as “the primer vehicle” for traditional investors and are a “disruptive powerhouse” with a significant connection to Bitcoin as a long-term investment. He indicated that these investment products demonstrated resilience throughout the year\u2019s downturns and are expected to continue exceeding expectations despite some recent challenges.<\/p>\n
Data from SoSoValue indicates that total outflows from Bitcoin ETFs have exceeded $1.8 billion, bringing total net assets down to $106.68 billion since the downturn began.<\/p>\n
Despite this recent downturn, Matthew Bartolini, Head of SPDR Americas Research at State Street Global Advisors, described the global ETF industry as concluding its best year ever<\/a> in an interview with FOX Business. <\/p>\n The report emphasized the increase in active funds and the strong demand for new crypto-focused investment products. Sumit Roy, a senior ETF analyst for ETF.com, noted that the launch of new ETFs contributed to the year\u2019s impressive performance.<\/p>\n \u00a0Another reason has to do with the launch of crypto ETFs. You\u2019ve seen Spot Bitcoin ETFs now pop up in January; inflows have just been insane.<\/p>\n<\/blockquote>\n Balchunas earlier remarked that BTC ETFs serve as “the primer vehicle” for traditional investors and are a “disruptive powerhouse” with a significant connection to Bitcoin as a long-term investment. He indicated that these investment products demonstrated resilience throughout the year\u2019s downturns and are expected to continue exceeding expectations despite some recent challenges.<\/p>\n\n
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