Thomas Daniels
On January 6, spot Bitcoin exchange-traded funds (ETFs) in the US saw inflows of about $1 billion, propelled by the cryptocurrency’s surge above the $102,000 threshold. According to data from SoSoValue, 12 spot Bitcoin ETFs brought in a total of $987.06 million in a single day, which is the second day in a row that they have had substantial inflows. The funds accumulated a remarkable $1.89 billion over the course of two days, indicating a resurgence of investor confidence.
Counteracting the Decline in December
The increase in inflows almost undid the decline that was observed in late December, when there was a net outflow of $1.9 billion from December 19 to January 2. The strong rebound of Bitcoin and the general fervor it has rekindled among institutional investors are credited with the turnaround.
Top Performers Take the Lead
Leading Monday’s inflows were $370.24 million from Fidelity’s FBTC, followed by $209.08 million from BlackRock’s IBIT and $152.92 million from ARK 21Shares’ ARKB. Other noteworthy participants were:
- The BITB of Biwise is $75.23 million.
- The corresponding values of Grayscale’s GBTC and BTC ETFs are $73.79 million and $71.19 million.
With separate draws of $17.33 million, $8.88 million, and $8.38 million, VanEck’s HODL, Franklin Templeton’s EZBC, and Valkyrie’s BRRR made modest contributions. Interestingly, three ETFs showed no reaction to inflows.
Increase in Trading Volumes
On January 6, daily trading volumes for all of these ETFs jumped to $3.96 billion, a significant rise from the $2.59 billion the day before. This increase is a result of increased market activity as Bitcoin keeps rising.
Resurgent Institutional Interest
Interest in spot Bitcoin ETFs has increased as a result of Bitcoin’s surge above $102,000, which was further stoked by the cryptocurrency’s record high of $108,135 on December 17. The aggressive collection by institutional participants was indicated by the fact that U.S. spot Bitcoin ETFs amassed 51,500 BTC in December, which was 272% more than the 13,850 new coins that month entered circulation.
Updates on Bitcoin Prices
Bitcoin was up 2.2% in the last day, trading at $101,674 at the time of writing, as traders continue to hold out hope for more gains.
