The number of days that spot Bitcoin exchange-traded funds in the US has had inflows has grown to ten. The funds received $223.03 million on December 11th, as Bitcoin recovered and surpassed $100,000. The latest data from SoSoValue shows that Fidelity’s FBTC has been receiving fresh investments for the past ten days, totaling $121.9 million on December 11. Furthermore, 21Shares’ ARKB fund and Grayscale’s GBTC fund contributed significantly, with the former receiving $20.13 million and the latter $52.67 million.
Bitcoin ETF Inflows a Neutral Trends
Additionally, smaller funds managed by VanEck received $2.87 million, $12.16 million from Biwise’s BITB, and $15.74 million from Grayscale Bitcoin Mini Trust. One exception, though, was the $2.44 million in withdrawals reported by Valkyrie’s BRRR fund that day. As of December 12th, other bitcoin Ethereum’s Market remained neutral. For example, BlackRock’s IBIT has amassed $25.06 billion in assets since its launch.
The aggregate trading volume for Bitcoin investment products fell slightly from $3.97 billion the previous day to $3.94 billion on December 12th. Thirteen Bitcoin exchange-traded funds (ETFs) have received $34.58 billion as of this writing.
Bitcoin recently surged, sending the cryptocurrency soaring beyond $100,000 and reaching a high of nearly $102,000. This rise was caused by the recent inflation numbers in the US, which have intensified anticipation of a potential interest rate reduction by the Federal Reserve.
Ethereum ETF Inflows Drop
On December 12, net inflows into spot Ethereum ETFs decreased to $102.03 million, a 66% decrease from the 305.74 million seen the previous day. Statistics compiled by SoSoValue show that 74.16% of all capital flows went into BlackRock’s ETHA fund. Grayscale followed.
Ethereum Mini Trust raised a total of $13.38 million. Furthermore, $8.23 million went to ETHW (Biwise), $5.6 million to ETHV (VanEck), and $2.91 million to EZET (Franklin Templeton). Nevertheless, the total withdrawals since the ETHE fund’s debut have reached $3.5 billion, with $2.26 million revealed on December 12th.
As of the reporting date, there had been a net inflow of $1.97 billion into Bitcoin ETFs. Virtual money Ethereum (eth5.92%)Additionally, the value of one Ethereum’s Market token increased to $3,916 as its price increased 7.2% compared to the previous day. The total market value of all cryptocurrencies increased, reaching $3.81 trillion, a 3.7% gain.
In Summary
Due to Bitcoin’s meteoric rise back to $100,000 on December 12, 2024, $223.03 million poured into Bitcoin exchange-traded funds. With $121.9 million, Fidelity’s FBTC continued its 10-day winning streak. Significant contributions were also made to other funds, such as ARKB and Grayscale’s GBTC. Nevertheless, $2.44 million was taken out of Valkyrie’s BRRR fund.
Most funds, including Grayscale’s Ethereum Mini Trust and BlackRock’s ETHA, Received contributions, and the inflows to Ethereum ETFs were slower, totaling $102.03 million. Grayscale’s ETHE fund recorded withdrawals of $2.26 million. With prices surpassing $102,000 for Bitcoin and $3,916 for Ethereum, the market capitalization of the cryptocurrency market as a whole rose.
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