Following recent price corrections in the digital currency market, institutional investors have become more cautious. Reports indicate that in the past three trading days, 11 Bitcoin ETFs in the United States collectively lost $1.17 billion, with this cryptocurrency dropping over 14% from its all-time high last week. Among these, Fidelity led with an outflow of $146 million on December 23. Bitwise, Ark 21Shares, Invesco, VanEck, and Grayscale also experienced capital outflows, while BlackRock defied the trend with a $31.7 million inflow. The total inflow of these institutional investment products has reached $35.8 billion to date, reflecting significant demand for Bitcoin-based tradable products. Recently, investment firm Swan reported that the BlackRock iShares Bitcoin ETF has now entered the top 35 funds historically with $53.3 billion in assets under management. Unlike the recent performance of Bitcoin ETFs, Ethereum ETFs have shown a positive trend, registering a total inflow of $130.8 million on December 23. BlackRock led this list with $89.5 million in inflows, followed by Fidelity with $46.4 million. According to market data, Bitcoin’s price correction has reached 14.5% from its peak, dropping to a monthly low of $92,442 in Tuesday’s trading. However, at the time of writing this news, Bitcoin has returned to $94,000. Altcoins had better performance during this time, with cryptocurrencies like Binance Coin (BNB), Avalanche (AVAX), Chainlink (LINK), SushiSwap (SUSHI), and Hedera (HBAR) experiencing over 4% price increases. You can check the live prices of all tokens and cryptocurrencies on the momentary price page.
