The 11 spot bitcoin ETFs closed the day in the red zone as seven funds lost a collective $258 million to outflows.
The trading day ended with the spot bitcoin ETFs recording a net outflow of $226 million as inflows from Blackrock’s IBIT were not enough to offset the outflows from other funds.
Blackrock’s IBIT was the only ETF fund that recorded an inflow for the day. Seven out of the 11 recorded outflows while three saw no transactions.
Farside Investor’s UK revealed that Fidelity’s FBTC recorded the highest outflow for the day losing $146 million.
Grayscale’s GBTC recorded the second-highest outflow losing $38.4 million, while Investco’s BTCO followed suit with $25.6 million outflow.
Bitwise BITB, Ark 21 shares AKRB, and Grayscale’s BTC recorded $23.7 million, $15.7 million, and $6.2 million respectively.
The least outflow for the day was recorded by Vaneck’s HODL losing $2.6 million for the day. The Spot Bitcoin ETFs recorded a net outflow of $226 million for the day.
Blackrock’s IBIT Performs Poorly
Blackrock’s IBIT the largest Bitcoin ETF by inflows pulled in only $31.7 million for the day. IBIT was the only Bitcoin ETF fund to pull in an inflow for the day.
Unfortunately, the inflow was not enough to offset the outflows from other Funds.
The cumulative total net inflow of the Bitcoin ETFs stood at $35.83 billion with $3.52 Billion as the Total value traded at the end of the trading day.
Bitcoin slumps to $94,000 a week after hitting all-time high
Bitcoin the flagship crypto asset slumped to $94,000 a week after hitting an all-time high price level. Early last week, Bitcoin hit an all-time high of $108,135.
The crypto asset went bust and started dropping after the Federal Open Market Committee released new data and confirmed that there would be only two rate cuts for the whole of 2025.
Bitcoin reacted to the FOMC data dropping as low as $90,000 days after before regaining slightly.
At the time of the report, the crypto asset is exchanging hands for $94,023 dropping by 2.2% in the last 24 hours.
Corporate firms buy the Dip
A couple of firms have been taking advantage of Bitcoin’s recent dip to increase their Bitcoin holdings. Yesterday, Dec 23, Tokyo-based firm Metaplanet announced that it has acquired an additional 619.7 BTC at an average price of ($97,786) per Bitcoin.
This brings Metaplanet’s total holdings to 1,761.98 BTC, valued at over $164 million at current prices.
Microstrategy yesterday announced it has acquired an additional 5,262 BTC worth $561 million at an average price of $106,662. This takes their BTC tally to 444,262 BTC.
Microstrategy remains the highest corporate holder of BTC starting its BTC journey during the pandemic in 2020.
The company chairman Michael Saylor is a strong proponent of Bitcoin and believes digital assets have an intrinsic value and a plausible leverage over other asset classes.
