On Monday, U.S. spot bitcoin ETFs experienced a total net loss of $231 million, with BlackRock's IBIT alone contributing to $300 million of that outflow. This was somewhat mitigated by other funds, such as ARKB, which saw an inflow of $50 million, and GBTC, which gained $35 million, according to data from SoSoValue.
This decline in bitcoin demand comes at a time when risk appetite is increasing in other markets. On Tuesday, Wall Street's tech rally spread to Asia, with the MSCI Asia Pacific index rising by 1% on the last trading day of the year. This increase was bolstered by a rebound in the semiconductor sector, helping the S&P 500 break a five-day losing streak. The Asian index is poised for its largest quarterly gain in nearly 17 years.
South Korea's Kospi, which suffered a 10% drop in a single day earlier this month, rose by 2.1%, solidifying its position as the top-performing major benchmark globally this year. Samsung's stock has surged over 100% this quarter, while SK Hynix has seen an impressive increase of nearly 240% since April. Meanwhile, the yen has fallen to its lowest point against the dollar since 1986, indicating that investors are financing their AI investments by borrowing in yen.
