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 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%.

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