Spot Bitcoin exchange-traded funds in the United States saw their third straight day of outflows as Bitcoin struggled to recover to $100K following the Fed’s hawkish rate cut.

According to data from SosSoValue, the 12 spot Bitcoin ETFs recorded $226.56 million in inflows on Dec. 23 exterior their streak of outflows to three days that saw over $1.18 billion leave the funds.

The majority of outflows were seen from Fidelity’s FBTC which logged outflows of $145.97 million while Grayscale’s GBTC followed with $38.39 million withdrawn from the fund.

Other BTC ETFs that recorded a negative flow are as follows:

• Invesco Galaxy’s BTCO, $25.56 million.
• Bitwise’s BITB, $23.75 million.
• ARK and 21Shares’s ARKB, $15.75 million.
• Grayscale Bitcoin Mini Trust, $6.18 million.
• VanEck’s HODL, $2.62 million.

BlackRock’s IBIT was the only BTC ETF to buck the trend with inflows of $31.66 million bringing its total net flows since the launch date to $37.36 billion.

The daily trading volume for these investment products stood at $3.52 billion on Dec. 23 lower than the $4.09 billion seen the previous day. When writing, total net inflows into the BTC ETFs stood at $35.83 billion.

Meanwhile, the significant outflows recorded on Monday followed Bitcoin’s (BTC) 4% decline from an intraday high of $96,386 to an intraday low of around $92,600 today, driven by a hawkish stance accompanying the Federal Reserve’s latest interest rate decision.

On Wednesday, the Federal Reserve implemented its third consecutive interest-rate cut but hinted at a slower pace of monetary easing next year to manage inflation. The move tempered the speculative enthusiasm in the crypto market, which had been fueled by Trump’s promise of crypto-friendly regulations and his support for establishing a national Bitcoin reserve.

The world’s largest crypto asset has fallen 11.9% over the past week exchanging hands at $94,436 per coin at press time.

Ethereum ETFs bounce back

The nine spot Ethereum ETFs recorded $130.76 million inflows on Dec. 23, breaking a two-day outflow streak that saw $135.4 million leave the funds. BlackRock’s ETHA led the pack with inflows of $89.51 million followed by Fidleity’s EFTH which saw $46.37 million enter the fund.

Biwise’s ETHW reported a more modest inflow of $963.72k while Grayscale Ethereum Mini Trust stood as an outliner of the day recording an outflow of $6.09 million.

The remaining ETH ETFs remained neutral on the day.

At press time, Ethereum (ETH) had gained 3.3% over the past 24 hours, exchanging hands at $3,412 per coin.