US Spot Bitcoin And Ethereum ETF Daily Outflows Top $470 Million

US spot Bitcoin and Ethereum ETF (exchange-traded fund) outflows collectively topped $470 million yesterday.

Data from Farside Investors shows that the BTC funds recorded the largest outflows, with more than $415.1 million leaving the investment products’ reserves collectively on Dec. 30. Meanwhile, ETH ETF reserves fell by $55.5 million.

Fidelity

Fidelity Leads In Bitcoin And Ethereum ETF Outflows

Both Fidelity’s BTC and ETH ETFs registered the biggest outflows. Yesterday, Fidelity’s FBTC posted $154.6 million outflows. This was after $208.6 million left the fund the day before. The next biggest outflows were posted by Grayscale’s GBTC with $134.5 million leaving the fund.

Similarly, BlackRock’s IBIT, Bitwise’s BITB, Invesco’s ARKB and Grayscale’s BTC all experienced outflows. The remaining US BTC ETFs recorded no new glows.

With regards to ETH ETFs, Fidelity’s FETH was among the 4 funds that suffered outflows. While FETH took the number 1 spot in terms of outflows yesterday, Grayscale’s ETHE and ETH recorded respective outflows of $17.4 million and $13.8 million. Franklin’s EZET also saw funds leave its reserves yesterday, while the rest of the ETH ETFs posted no new flows.

Over $281 Million Liquidated In The Last 24 Hours As Leveraged Longs Take A Hit

Along with the US spot Bitcoin and Ethereum ETF outflows, crypto bulls also took a knock. Data from CoinGlass shows that 24-hour liquidations reached more than $281 million.

Long positions for BTC and ETH accounted for the lion’s share of the liquidations. Around $78.94 million was wiped out from BTC long positions, while ETH longs lost $38.83 million. 

That’s after both ETH and BTC saw their prices drop in the last 24 hours. Bitcoin’s price dropped by a slim margin to trade at $92,707.44 as of 2:15 a.m. EST. Meanwhile, ETH’s price corrected more than 1%.

Related Articles:

  • MicroStrategy Stock (MSTR) Price Plunges 8% After Latest BTC Buy
  • Wall Street Pepe Rakes In $36.8M Through Blockbuster Presale
  • Brett Price Plummets 8% As This New ICO Blasts Past $7.1M

Comments

Post a Comment

Popular posts from this blog

Dogecoin Price Prediction: DOGE Plunges 7% As Experts Say Consider This Innovative Staking Meme Coin For 100X Gains

Image
The Dogecoin price plunged 7% in the last 24 hours to trade at $0.1922 as of 2.20 a.m. EST on trading volume that plummeted 23% to $7.56 billion. After surging over the past two days during the US election, the Dogecoin price climbed to $0.21, only for it to then correct back under the resistance at $0.20. The project only reached this height twice in the past year — once in March, and once again in April. However, with the election now officially over, the hype has died down, and prices have corrected. But Dogecoin might prove to be a special case given Trump’s plans to create a new crypto-related department and put Elon Musk — a major DOGE supporter — in charge of it. Recent mentions of the so-called Department of Government Efficiency, or DOGE, have fired Dogecoin higher, and so many are likely to keep DOGE in expectation of much greater gains in months and years to come. Dogecoin Price Prediction The Dogecoin price correction in the last 24 hours was fa...
Read more

Elon Musk Dogecoin Joke Fails To Ignite DOGE Price Even As Donald Trump Considers Tesla Titan For Public Office

Image
A Dogecoin joke by Tesla and SpaceX founder Elon Musk failed to stem a DOGE slump even as former President Donald Trump said he’d offer him a cabinet post if he re-takes the White House. In an Aug. 20 post on X, Musk said he’s “willing to serve,” along with a picture of him standing at a podium with the words “D.O.G.E. – Department of Government Efficiency.” Following the post, the price of Dogecoin registered a slight 24-hour loss to trade at $0.1046 as of 2:50 a.m. EST, perhaps signaling Musk’s waning influence on the price of the biggest meme coin by market capitalization. Trump Willing To Offer Elon Musk A Cabinet Position Musk’s post came in response to Trump saying that he would offer the Tesla and SpaceX founder a Cabinet position or an advisory role if he gets elected, and assuming Musk was interested. In an interview with Reuters, the Republican nominee said that he would approach Musk for such a position “i...
Read more

Bitcoin miner Phoenix Group’s $370m IPO overwhelms with massive subscription rate

Image
Phoenix Group, a major bitcoin mining service provider based in Abu Dhabi, recently announced the successful completion of its Initial Public Offering (IPO), securing a substantial $370 million in capital.  In a statement released this week, Phoenix Group revealed the IPO, initiated on the Abu Dhabi Securities Exchange (ADX), witnessed an overwhelming response, with subscriptions exceeding the initial offering price 33 times over. Notably, the enthusiasm among retail investors was particularly striking, with subscriptions surpassing expectations by 180 times. You might also like: WSJ: Changpeng Zhao to step down, plead guilty as part of Binance-DoJ settlemen Phoenix Group IPO details The public offering, which commenced on Nov. 16 and concluded on Nov. 18, involved the sale of 907 million shares. This represented 17.64% of the company’s stakes, with the aim of raising 1.3 billion UAE dirhams, approximately $370 million. The shares are scheduled to start trading ...
Read more