Bitcoin ETF trading volume spikes 50% amid BTC drop below 100k

U.S. spot Bitcoin exchange-traded funds recorded $7.1 billion in trading volume on Dec. 5, marking a 50% surge from the previous day, as Bitcoin’s price dropped below $100,000.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $766.66 million on Dec. 5, extending their six-day streak to a total of over $2.7 billion.

BlackRock’s IBIT led the pack for the fifth consecutive day, amassing $770.51 million in inflows. Other significant contributors included Grayscale Bitcoin Mini Trust with $95.35 million and Fidelity’s FBTC with $47.47 million. ARK and 21Shares’ ARKB chipped in a modest $12.32 million.

However, not all ETFs mirrored the inflow trend. Grayscale’s GBTC and Bitwise’s BITB recorded outflows of $148.78 million and $10.22 million, respectively, while the remaining ETFs saw zero flows on the day.

The total trading volume for these ETFs saw a significant jump to $7.1 billion, which is over 50% higher than the $4.71 billion recorded the previous day.

This came amid a sharp drop in Bitcoin’s (BTC) price, which fell over 10% from a record high of $103,607 on Dec. 5 to an intraday low of $92,980 on Dec. 6, before recovering slightly to over $98,000. The flagship cryptocurrency remains 4% lower over the past 24 hours.

Ether ETFs set record-breaking inflows

Meanwhile, Ether ETFs have been on a historic streak. On Dec. 5, U.S.-listed spot Ether ETFs recorded an aggregate inflow of $428.44 million, the largest single-day inflow since their launch on July 23. This broke the previous record of $333.92 million set on Nov. 29.

The nine Ether ETFs have now posted nine consecutive days of net positive inflows, accumulating over $1.3 billion in the past two weeks. BlackRock’s ETHA dominated the day’s inflows with a record $292.69 million, bringing its total to $2.64 billion.

Fidelity’s FETH added $113.61 million, while Grayscale Ethereum Mini Trust and Bitwise’s ETHW contributed $30.69 million and $6.58 million, respectively. Grayscale’s ETHE, however, saw outflows of $15.12 million.

This wave of inflows coincides with Ether’s (ETH) price rally. The cryptocurrency hit an eight-month high of $3,946 on Dec. 5, representing a 14.5% gain over the past fortnight. At press time, Ether was trading at $3,880.

Related Posts

Nevermined secures $4m to pioneer AI commerce infrastructure

Autonomous AI agents could reshape commerce, and Nevermined’s $4M funding is a step toward that future. Nevermined, a decentralized AI payment infrastructure provider, has secured $4 million in early investment…

Vitalik Buterin warns of AI risks while highlighting new opportunities

From mecha suits for the mind to agentic interfaces, the Ethereum visionary weighs in. Ethereum (ETH) co-founder Vitalik Buterin has lately expressed both hope and caution on artificial intelligence. He…

Leave a Reply

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