Spot Bitcoin exchange-traded funds (ETFs) in the United States are experiencing a bullish streak, recording their tenth consecutive day of inflows on December 11. A staggering $223.03 million flowed into these funds, coinciding with Bitcoin’s milestone rally above the $100,000 threshold.
Fidelity Leads ETF Inflows
According to SoSoValue, Fidelity’s FBTC ETF took the lion’s share of the inflows, securing $121.9 million on December 11, extending its own ten-day streak of positive investments. Other major contributors included ARK and 21Shares’ ARKB fund, which attracted $52.67 million, and Grayscale’s GBTC, with inflows of $20.13 million.
Smaller players such as Grayscale Bitcoin Mini Trust, Biwise’s BITB, and VanEck’s HODL funds also saw gains, bringing in $15.74 million, $12.16 million, and $2.87 million, respectively. However, Valkyrie’s BRRR fund reported outflows of $2.44 million, standing as the day’s outlier.
Also Read: Solana ETF Rejections – Bloomberg Analyst Eyes Approval Shift Under New SEC Chair
BlackRock ETF Steady, Bitcoin Rally Continues
BlackRock’s IBIT ETF, a market heavyweight with inflows totaling $35.06 billion since its debut, remained neutral on December 11. Total trading volume across Bitcoin investment products stood at $3.94 billion, slightly below the $3.97 billion recorded the day before.
Bitcoin’s rally to $102,000 was driven by optimistic investor sentiment following U.S. inflation data that hinted at a potential Federal Reserve rate cut. As of press time, Bitcoin was trading at $100,769, reflecting a 3.3% daily gain.
Ethereum ETFs Lag Behind
While Bitcoin ETFs celebrated robust inflows, Ethereum ETFs reported a slowdown. Net inflows for Ethereum investment products totaled $102.03 million on December 11, a sharp 66% drop from the $305.74 million seen a day earlier.
BlackRock’s ETHA fund led Ethereum ETF inflows with $74.16 million, followed by Grayscale Ethereum Mini Trust, which added $13.38 million. Smaller contributions came from Biwise’s ETHW ($8.23 million), VanEck’s ETHV ($5.6 million), and Franklin Templeton’s EZET ($2.91 million). Grayscale’s ETHE fund, however, saw outflows of $2.26 million, bringing its total outflows since launch to $3.5 billion.
Ethereum also mirrored Bitcoin’s price momentum, climbing 6.7% to trade at $3,930.
Broader Market Gains
The cryptocurrency market as a whole was on an upward trajectory, with total market capitalization increasing 3.7% to $3.81 trillion. This market-wide surge underscores growing investor confidence and highlights the pivotal role of spot ETFs in driving institutional adoption of cryptocurrencies.
As Bitcoin maintains its momentum above $100K, the continued inflows into spot ETFs indicate strong market support, paving the way for further growth in the digital asset space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
