#加密市场观察 Crypto Daily(12.30): Bitcoin ETF Sees Significant Net Outflows, Solana ETF Attracts Funds Against the Trend, ZEC Breaks $500, Institutional Investors Continue to Increase BTC Holdings

1. Bitcoin and Ethereum ETF Fund Flows
On December 29th, the US Bitcoin ETFs experienced large net outflows, with 10 Bitcoin ETFs net selling 3,495 BTC (approximately $30.6 million) that day, and 9 Ethereum ETFs net selling 17,969 ETH (about $5.27 million). This was mainly due to end-of-year institutional fund adjustments and decreased market liquidity. Solana ETFs defied the trend, with a single-day net inflow of 6,401 SOL (about $794,000), and a total net inflow of 117,433 SOL (around $14.56 million) over 7 days, reflecting changing market preferences for certain cryptocurrencies.

2. Zcash (ZEC) Independent Market Performance and Market Position Analysis
Zcash (ZEC) showed independent price movement during Bitcoin's sideways trend, breaking through $500, with a nearly 40% increase from its recent low, and its market cap rising to about $7 billion, making it one of the highest market cap privacy coins. The main drivers of this rise include privacy demands (countering surveillance states, CBDC programmable control risks) and privacy hedging needs in the institutionalized Bitcoin environment. Its zero-knowledge cryptography technology is difficult for other assets to replicate. Technical upgrades (such as Sapling and Orchard) lowered transaction barriers, improved user experience, and helped ZEC shift from a "marginal asset" to a mainstream privacy hedge tool.

3. Centralized Exchange (CEX) Bitcoin Fund Flows (Inflow and Outflow)
In the past 24 hours, major CEX platforms experienced a net outflow of 1,706.50 BTC, with Kk (1,115.87 BTC), OK (426.06 BTC), and Bn (392.39 BTC) being the main outflow platforms. Bt saw a net inflow of 509.45 BTC (possibly due to active derivatives markets). Galaxy Digital recently transferred about 447 BTC to CEXs, worth approximately $39 million, suspected to be short-term trading activity, reflecting institutional responses to market sentiment changes.

4. Listed Company Bitcoin Purchase/Accumulation Activity
Nasdaq-listed iPower completed its first digital asset purchase, buying 15.1 BTC at an average price of $87,686.33 and 301.1 ETH at an average price of $2,934.67, planning to continue increasing holdings in the coming weeks. The world's largest publicly listed Bitcoin holder, Strategy (MSTR), increased its holdings by 1,229 BTC last week through issuing new common stock, bringing its total to 672,497 BTC, with a total cost basis of $50.44 billion and an average purchase price of $74,997, continuing its Bitcoin treasury strategy.