The 11 spot Bitcoin ETFs signed off the year 2024 with a net inflow after losing a whopping $702 million two days before.
The Bitcoin ETFs recorded two days of heavy outflow losing $287 million and $415 million respectively before the last day of the year.
On December 31st, the Bitcoin ETFs pulled in a miserly $5.3 million following inflows in three out of the 11 existing Bitcoin funds.
Farside Investors UK revealed that Fidelity’s FBTC led the inflow for the day recording a $36.8 million inflow.
Bitwise BITB and Grayscale’s GBTC recorded inflows of $8.7 and $4.1 respectively.
Outflows from three funds offset the inflows for the day
Blackrock’s IBIT recorded the most outflow for the day losing $23.5 million
Ark 21 shares ARKB recorded an $11.2 million outflow trailed by Grayscale’s GBTC which lost $9.6 million.
The remaining Bitcoin ETFs recorded no transactions for the day.
The last trading day of the year took the cumulative total net inflow of the Bitcoin ETFs $35.24 billion with total value traded at $2.25 billion according to SosoValue Data.
Bitcoin Price Analysis
Bitcoin at the moment is exchanging hands for $93,978 dropping by 1.5% in the last 24 hours. The crypto asset is still down 13.7% from its all-time high of $108,135.
Bitcoin broke the psychological barrier of $100,000 for the first time last month after a month’s wait.
The crypto asset has since retraced to under $94,000 staying at that level for the rest of the Christmas period.
The Much anticipated Santa Rally didn’t occur this year as analyst question whether the Donald Trump induced bull run has ran its course and is now over.
Bitcoin is predicted to surge in Q1 2025 according to the Grayscale research team with some analysts predicting that the primary crypto asset can hit $150,000 in 2025.
