Bitcoin: Spot ETFs See Massive Inflow

Bitcoin crosses a historic threshold by reaching $100,000. This explosive increase has propelled spot Bitcoin ETFs to record levels. More details below.

Daily Market Update – Dec 11th

Bitcoin Spot ETF inflows reached $440M, marking 9 consecutive days of growth. Ethereum Spot ETFs also saw a 12-day streak with $306M inflows. pic.twitter.com/gxAmdOeZmc

— SingularityDAO (@SingularityDAO) December 11, 2024

A spectacular increase in flows to Bitcoin ETFs

On December 11, Bitcoin ETFs experienced an exceptional day with $223.03 million in net inflows. This performance marks the tenth consecutive day of positive flows. This strengthens the dominance of these products in the cryptocurrency market.

• The Fidelity Bitcoin Trust (FBTC) was the main beneficiary, attracting $121.9 million in one day.
• The ARK ETFs from ARK and 21Shares and the GBTC from Grayscale recorded inflows of $52.67 million and $20.13 million, respectively.

These inflows coincide with the rise in BTC price, which has surpassed $102,000.

Bitcoin ETFs show notable disparities between funds

Despite impressive overall results, not all funds are benefiting from this momentum. While products like Biwise’s BITB ($12.16M) and VanEck’s HODL ($2.87M) saw modest inflows, others experienced outflows. For example, Valkyri’s BRRR reported net outflows of $2.44 million on the same day.

In a global assessment, the total cumulative net flows for the 12 Bitcoin ETFs amount to $34.58 billion. However, the total transaction volume remains slightly lower: $3.94 billion, compared to $3.97 billion recorded the day before.

Another notable point concerns BlackRock’s IBIT. It remained neutral on December 11, but has accumulated impressive inflows of $35.06 billion since its launch. These figures place BlackRock among the leaders in the crypto ETF market.

According to crypto analysts, the coming months could still hold surprises, both for Bitcoin ETFs and for the crypto market as a whole.