📉 Bitcoin Exchange-Traded Funds (ETFs) continue the wave of outflows, with net withdrawals exceeding $277 million in a single day, while Fidelity (FBTC) was the only fund to record positive inflows.
🔹 On December 16, a bleak trading session was recorded for spot Bitcoin funds, with net outflows amounting to $277.09 million.
🔹 In a sea of red, Fidelity (FBTC) was the only fund that swam against the tide, achieving inflows of $26.72 million.
🔹 Notably, the market leader, BlackRock (IBIT), which is usually the main driver of inflows, recorded the largest net withdrawal of $210.68 million.
🔹 The total net assets held by ETF funds currently amount to $114.28 billion in Bitcoin, with the net assets ratio of ETFs around 6.54%.
🔹 BlackRock (IBIT) executing a net sale exceeding $200 million while Fidelity continues to buy indicates a divergence in the views of institutional investors. When BlackRock's inflows turn negative, it is often a short-term caution signal and may indicate portfolio restructuring or year-end profit-taking by institutional investors.
❓ Is this just a technical correction, or the beginning of a significant capital exit?
