Post-Holiday Bitcoin ETF Comeback Shines Bright!

US spot Bitcoin ETFs notched a positive net inflow after four trading days of outflows that bled over $1.5 billion.

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Danielle du Toit
December 27, 2024

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Here's what we've got for you today:

  • Post-Christmas Miracle as Bitcoin ETFs Cinch Inflow After 4-Day Bleed

  • Moo Deng Finds a Benefactor in Ethereum Co-Founder Vitalik Buterin

  • Bitwise, Ramaswamy’s Strive Files for ETFs Investing in Companies with Bitcoin Treasuries

  • BONK Falls 7% Despite BURNmas Taking $51M in Tokens Out of Circulation

🤑 Post-Christmas Miracle as Bitcoin ETFs Cinch Inflow After 4-Day Bleed

Yesterday, US spot Bitcoin ETFs finally notched a positive net inflow after four trading days that bled over $1.5 billion.

  • Bitcoin ETFs saw a combined net inflow of $475.2 million on Dec. 26, led by the Fidelity Wise Origin Bitcoin Fund with $254.4 million in inflows.

  • ARK 21Shares Bitcoin ETF and BlackRock's iShares Bitcoin Trust ETF (IBIT) followed with inflows of $186.9 million and $56.5 million, respectively.

  • The inflows broke a streak of four consecutive trading days of net outflows from Dec. 19 to Dec. 24.

Ethereum co-founder Vitalik Buterin made headlines by adopting viral pygmy hippo Moo Deng.

  • Ethereum co-founder Vitalik Buterin adopted Moo Deng, the viral pygmy hippopotamus, through Thailand's Khao Kheow Open Zoo’s Wildlife Sponsorship Program.

  • Buterin donated 10,000,000 Thai Baht, or $292,000, to support Moo Deng and her family.

  • Buterin also hinted at further support for Moo Deng and her companions through an additional 88 ETH, which is worth over $290,000.

Bitwise and Strive Financial have both filed to create new ETFs that invest in companies with Bitcoin treasuries.

  • The two new ETFs seek to capitalize on the growing trend of corporations adopting Bitcoin.

  • The ETF from Bitwise targets companies holding over 1,000 BTC, with specific market and liquidity criteria, like a $100M+ market cap and $1M+ daily liquidity.

  • Overall, the ETF will allocate shares based on the value of the companies' Bitcoin holdings rather than their market capitalizations.

Meme coin Bonk failed to avoid the crypto slump despite a token-burning event that took 1.69 trillion BONK tokens out of circulation.

  • The Solana-based meme coin BONK burned 1.69 trillion tokens during its “BURNmas” campaign on Dec. 26.

  • While a 100 billion BONK burn in November spiked its price by about 56%, the Dec. 26 burn failed to replicate this success.

  • In fact, after the Dec. 26 burn, BONK's price declined by over 7%.

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