Bitcoin ETF trading volume spikes 50% amid BTC drop below 100k

US spot Bitcoin exchange-traded funds trading volume was recorded at $7.1 billion on December 5. This marks a 50% increase from the previous day, as Bitcoin’s price fell below $100,000.

According to SoSoValue data, 12 spot Bitcoin ETFs recorded net inflows of $766.66 million on Dec. 5, bringing their six-day streak to a total of over $2.7 billion.

BlackRock’s IBIT maintained its lead for the fifth day in a row, collecting $770.51 million in inflows. Other significant contributors included Grayscale Bitcoin Mini Trust with $95.35 million and Fidelity’s FBTC with $47.47 million. ARK and 21Shares’ ARKB brought in a modest $12.32 million.

But not all ETFs reflected the inflow trend. Grayscale’s GBTC and Bitwise’s BITB recorded outflows of $148.78 million and $10.22 million, respectively, while the remaining ETFs saw zero inflows on the day.

The total trading volume of these ETFs recorded a significant jump to $7.1 billion, which is 50% higher than the $4.71 billion recorded the previous day.

This comes after the price of Bitcoin (BTC) dropped over 10% from its record high of $103,607 on December 5 to an intraday low of $92,980 on December 6, before recovering slightly to above $98,000. The flagship cryptocurrency remains 4% lower in the last 24 hours.

Ether ETFs spark record-breaking inflows

Meanwhile, Ether ETFs are on a historic winning streak. Spot Ether ETFs listed in the US on December 5 recorded total inflows of $428.44 million, the largest single-day inflow since their launch on July 23. This broke the previous record of $333.92 million set on November 29.

Nine Ether ETFs have recorded net positive inflows for nine consecutive days, accumulating over $1.3 billion in the past two weeks. BlackRock’s ETHA dominated the day’s inflow with a record $292.69 million, bringing its total to $2.64 billion.

Fidelity’s FETH added $113.61 million, while Grayscale Ethereum Mini Trust and Bitwise’s ETHW contributed $30.69 million and $6.58 million, respectively. However, Grayscale’s ETHE saw an outflow of $15.12 million.

This entry wave coincides with the price increase of Ether (ETH). The cryptocurrency reached an eight-month high of $3,946 on December 5, representing a 14.5% increase in the past two weeks. At the time of writing, Ether was trading at $3,880.