Bitcoin ETFs see continued inflows as BTC climbs back above $100K

Spot Bitcoin exchange-traded funds in the United States recorded their tenth consecutive day of inflows on Dec. 11, with $223.03 million entering the funds as Bitcoin climbed back above the $100,000 mark.

According to data from SoSoValue, the majority of inflows on Dec. 11 went into Fidelity’s FBTC, which saw $121.9 million in new investments, extending its inflow streak to ten days. ARK and 21Shares’ ARKB fund and Grayscale’s GBTC also contributed significantly, with inflows of $52.67 million and $20.13 million, respectively.

Additionally, Grayscale Bitcoin Mini Trust, Biwise’s BITB, and VanEck’s HODL funds received more modest inflows of $15.74 million, $12.16 million, and $2.87 million, respectively. However, Valkyrie’s BRRR fund was the only outlier, reporting outflows of $2.44 million on the day.

Other BTC ETFs, including BlackRock’s IBIT—which has recorded inflows of $35.06 billion since its launch—remained neutral on Dec. 11.

The total trading volume for Bitcoin investment products stood at $3.94 billion on Dec. 11, slightly lower than the $3.97 billion recorded the previous day. As of the report, total net inflows into the 12 BTC ETFs amounted to $34.58 billion.

These inflows coincided with Bitcoin’s recent rally, which saw the crypto asset surpass $100,000, reaching a high of approximately $102,000. This increase came as recent U.S. inflation data raised expectations of a potential interest rate cut by the Federal Reserve.

At press time, Bitcoin (BTC) was trading at $100,769 per coin, up 3.3% over the past 24 hours.

Ether ETF inflows slow down

Spot Ethereum ETFs saw a slowdown in net inflows on Dec. 11, with $102.03 million recorded—a significant 66% drop from the $305.74 million seen the previous day.

According to data from SoSoValue, BlackRock’s ETHA fund attracted the majority of inflows, with $74.16 million entering the fund. Grayscale Ethereum Mini Trust followed, bringing in $13.38 million. Other contributors included Biwise’s ETHW, VanEck’s ETHV, and Franklin Templeton’s EZET, which saw inflows of $8.23 million, $5.6 million, and $2.91 million, respectively.

However, Grayscale’s ETHE fund reported outflows of $2.26 million on Dec. 11, bringing its total outflows since launch to $3.5 billion.

Cumulative net inflows for Ethereum ETFs stood at $1.97 billion at the time of reporting.

Ethereum (ETH) also experienced a price increase, trading at $3,916 per coin, up 7.2% over the past day. The broader cryptocurrency market was also on an upward trend, with total market capitalization rising 3.7% to $3.81 trillion.

Related Posts

Australian wealth manager AMP invests $27m in Bitcoin as first major superannuation fund to embrace crypto

AMP has made a $27 million investment in Bitcoin, becoming the first major superannuation fund in Australia to enter the crypto market. AMP Wealth Management, one of Australia‘s largest wealth…

Binance CEO says users deposited over $21b to the exchange in 2024

Binance CEO Richard Teng announced that the crypto exchange saw a total of $21.6 billion in user fund deposits throughout 2024 alone, following a surge in Bitcoin and Tether deposit…

Leave a Reply

Your email address will not be published. Required fields are marked *