Bitcoin crosses a historic threshold by reaching $100,000. This meteoric rise has just propelled spot Bitcoin ETFs to record levels. More details below.
A spectacular increase in flows to Bitcoin ETFs
On December 11, the Bitcoin ETF had an exceptional day with $223.03 million in net inflows. This performance marks the tenth consecutive day of positive flows. Enough to strengthen the domination of these products on the cryptocurrency market.
- The Fidelity Bitcoin Trust (FBTC) was the biggest beneficiary, attracting $121.9 million in one day.
- ARK and 21Shares' ARKB ETFs and Grayscale's GBTC saw inflows of $52.67 million and $20.13 million, respectively.
These flows coincide with the rise in the price of BTC, which exceeded $102,000.
Bitcoin ETFs show notable disparities between funds
Despite results impressive overallnot all funds benefit from this momentum. While products like Biwise's BITB ($12.16M) and VanEck's HODL ($2.87M) captured modest inflows, others suffered withdrawals. Valkyri's BRRR, for example, shows net outflows of $2.44 million on the same day.
As part of an overall assessment, the total cumulative net flows for the 12 Bitcoin ETFs amounts to $34.58 billion. However, the total trading 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 flows 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.
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