📢 Gate Square #MBG Posting Challenge# is Live— Post for MBG Rewards!
Want a share of 1,000 MBG? Get involved now—show your insights and real participation to become an MBG promoter!
💰 20 top posts will each win 50 MBG!
How to Participate:
1️⃣ Research the MBG project
Share your in-depth views on MBG’s fundamentals, community governance, development goals, and tokenomics, etc.
2️⃣ Join and share your real experience
Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
Bitcoin Drops As ETF Outflows Hit $680M Amid Powell’s Federal Reserve Comments
Bitcoin ETFs recorded a daily net outflow of $680 million but maintained $36.33 billion in cumulative inflows.
Fidelity and Grayscale ETFs led withdrawals with $208.5M and $188.6M outflows.
Powell’s inflation concerns and regulatory stance contributed to Bitcoin's price decline and ETF market.
Bitcoin encountered a sharp fall following comments from Fed Chair Jerome Powell during the latest FOMC meeting. Powell emphasized concerns about inflation and limited potential for rate cuts in 2025. He also clarified that the Federal Reserve is prohibited from holding Bitcoin, contrasting previous pro-crypto rhetoric.
ETFs See $680M Outflow but $36B Inflows Hold
In a detailed report by SoSoValue as of December 19, the Daily Total Net Inflow recorded an outflow of -$680 million. Despite this, the Cumulative Total Net Inflow stands at $36.33 billion, showing long-term positive inflows into these financial products
Source: SoSoValue
The Total Value Traded for the day amounted to $6.31 billion, indicating significant activity across the listed ETFs. Total net assets across these ETFs reached $109.66 billion, representing 5.74% of Bitcoin’s market capitalization.
Fidelity, Grayscale ETFs Lead Massive Outflows
Fidelity’s FBTC and Grayscale’s BTC ETFs saw the largest withdrawals, $208.5 million and $188.6 million, respectively. BlackRock’s IBIT ETF recorded no fresh funding but avoided withdrawals.
GBTC (NYSE), managed by Grayscale, saw a net outflow of -$87.86 million, bringing cumulative net inflows to -$21.24 billion. Its net assets stood at $20.04 billion, with a daily price decline of 4.37%. ARKB (CBOE) by Ark had a daily outflow of -$108.35 million and cumulative inflows of $2.59 billion. Its net assets were valued at $4.64 billion, with a price reduction of 4.14%.
BITB (NYSE), sponsored by Bitwise, reported a net outflow of -$43.61 million for the day. Cumulative inflows reached $2.25 billion, while net assets stood at $3.97 billion, with a 4.33% price drop. BTC (NYSE), another Grayscale ETF, recorded a daily outflow of -$188.60 million, with cumulative inflows of $853.33 million. Its net assets were $3.69 billion, with a 4.33% daily price decline.
The post Bitcoin Drops as ETF Outflows Hit $680M Amid Powell’s Federal Reserve Comments appeared first on Crypto News Land.