A record $680 million exited U.S. spot bitcoin exchange-traded funds (ETFs) on Thursday, in the largest single-day outflows these funds have seen, following comments from Federal Reserve Chair Jerome Powell that were interpreted as hawkish.

The U.S. Securities and Exchange Commission (SEC) has approved two new exchange-traded funds (ETFs) offering exposure to bitcoin and ether offered by Hashed and Franklin Templeton. While Hashdex’s Nasdaq Crypto Index US ETF will trade on the Nasdaq, the Franklin Crypto Index ETF will be on the Cboe BZX Exchange.

Tokyo Stock Exchange-listed Japanese investment firm Metaplanet has secured 9.5 billion yen, worth approximately $60.6 million, through the issuance of two tranches of bonds this week in a bid to “accelerate bitcoin purchases.”

Top stories in the Crypto Roundup today:

• Spot Bitcoin ETFs Suffer Largest Single-Day Outflows Ever
• SEC Approves Two New Spot Bitcoin and Ether ETFs from Hashdex and Franklin Templeton
• Japanese Investment Firm Metaplanet Raises $60.6 Million to Boost Bitcoin Purchases
• Stablecoin Trading Activity on Track for Yearly High

Spot Bitcoin ETFs Suffer Largest Single-Day Outflows Ever

A record $680 million exited U.S. spot bitcoin exchange-traded funds (ETFs) on Thursday, in the largest single-day outflows these funds have seen, following comments from Federal Reserve Chair Jerome Powell that were interpreted as hawkish.

The outflows put an end to a 15-day inflow streak and came as the price of BTC dropped more than 6% in just 24 hours to around $95,500 at the time of writing, after the Federal Reserve’s Chair suggested a potential easing of the interest rate-cutting cycle next year.

Leading the outflow was Fidelity’s FBTC, which saw $206.8 million pulled from the fund, while Grayscale’s Bitcoin Mini Trust experienced $188.6 million in outflows and ARKB saw $108.4 million in outflows.

The largest spot bitcoin ETF by assets, BlackRock’s iShares Bitcoin Trust, saw zero flows for the day, while WisdomTree’s BTCW was the only spot bitcoin ETF registering inflows, seeing $2 million.

SEC Approves Two New Spot Bitcoin and Ether ETFs from Hashdex and Franklin Templeton

The U.S. Securities and Exchange Commission (SEC) has approved two new exchange-traded funds (ETFs) offering exposure to bitcoin and ether offered by Hashed and Franklin Templeton. While Hashdex’s Nasdaq Crypto Index US ETF will trade on the Nasdaq, the Franklin Crypto Index ETF will be on the Cboe BZX Exchange.

Both funds will hold spot bitcoin and spot ether, with the Franklin Crypto Index ETF tracking the Institutional Digital Asset Index, and Hashdex’s fund tracking bitcoin and ether as included in the Nasdaq Crypto US Settlement Price Index.

The regulator said that both proposals met the criteria of the Exchange Act and cited the “substantially similar” structure and operating terms of the proposals to previously approved bitcoin and ether spot exchange-traded funds.

Other firms have filed to list similar ETFs, with NYSE Arca expressing interest in listing a Bitwise ETF holding bitcoin and ether, and a Grayscale crypto index ETF holding a diverse basket of digital assets. These proposals are still being considered.

Japanese Investment Firm Metaplanet Raises $60.6 Million to Boost Bitcoin Purchases

Tokyo Stock Exchange-listed Japanese investment firm Metaplanet has secured 9.5 billion yen, worth approximately $60.6 million, through the issuance of two tranches of bonds this week in a bid to “accelerate bitcoin purchases.”

The firm said that it had finalized the issuance of a 5 billion yen ($31.9 million) designated as its fifth ordinary bond, in addition to a 4.5 billion yen ($28.7 million) bond offering. Both bonds are zero-coupon, meaning they do not pay interest, and mature on June 16, 2025.

On social media, Metaplanet’s CEO Simon Gerovich said the funds will “accelerate bitcoin purchases originally planned for 2025 into the current year.” The company currently holds 1,147.287 BTC worth approximately $108.9 million.

Stablecoin Trading Activity on Track for Yearly High

In December, the trading volume for stablecoin pairs on centralized exchanges reached $1.48 trillion as of the 15th. Trading activity is on track to surpass the previous yearly high of $2.40 trillion recorded in November.

USDT’s dominance in stablecoin trading activity surged in December, reaching 86.3% among the top stablecoins on centralized exchanges. FDUSD maintained its second position with a market share of 6.85%, followed by USDC with a market share of 6.72%.

Learn more about the stablecoin ecosystem via CCData’s latest Stablecoins & CBDCs report.

State of the Crypto by Top Tier Exchange Volume

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