Bitcoin ETF inflows surge to 6-week high of nearly $1 billion

On January 6, local Bitcoin ETFs in the United States saw their highest inflows since November 21, with $978 million, equivalent to 9,577 BTC, entering the investment products.

It was also the second consecutive trading day with more than $900 million in inflows, with $908 million inflows across the eleven funds on January 3.

The inflow of $1.88 billion reversed a trend that left $1.97 billion in investment products since Dec. 19, nearly wiping out those outflows in just two days.

1/6 Final Entries for US Bitcoin ETFs 9,577 BTC, or $978 Million pic.twitter.com/bXUHYHFxDF

— HODL15Capital (@HODL15Capital) January 7, 2025

Way of ETF consumption exceeding BTC production

Fidelity’s FBTC fund was the day’s leader on Monday, with inflows of $370 million, followed by BlackRock’s IBIT fund with $209 million.

Ark 21Shares also had a good day with $153 million in inflows, while both GBTC grayscale products and the BTC mini trust received more than $70 million each, as did Bitwise. There were minor innings for Franklin and VanEck and no outings for the rest.

GBTC buys 720 Bitcoin

You know it’s a great day when GBTC is buying pic.twitter.com/RVZpafS0MJ

— Thomas | heyapollo.com (@thomas_fahrer) January 7, 2025

More than 9,000 BTC have entered Bitcoin ETFs per day over the past two trading days, which is significantly more than the 450 BTC mined each day on average.

Bloomberg ETF analyst Eric Balchunas said: “I would have predicted a rough patch for BTC ETFs given the dip below $100,000 (expected for a breather), but no, they roared back on Friday with almost $1 billion.” BTC has since recovered $100,000 and the products have seen another day with almost $1 billion in inflows.

I would have predicted a rough patch for btc ETFs given the dip below $100,000 (expected a breather) but no, they roared back with nearly $1 billion on Friday, lifting 1W on the network positive good sign The scoreboard was also distributed, Dream Team style, also a good sign. pic.twitter.com/krmKS0wKm2

— Eric Balchunas (@EricBalchunas) January 6, 2025

The ETF’s resurgence follows spot markets where Bitcoin has gained nearly 10% since the start of this year. The asset hit an intraday high of $102,512 in early trading in Asia on Tuesday, so the ETF’s momentum may continue today if those gains hold.

Resurgence of the ETF ETF

Spot Ethereum ETFs also had a good day on Monday, with their highest entry for a fortnight at $128.7 million.

The bulk of that inflow, $124 million, was for BlackRock’s ETHA fund, which has now seen a total of $3.6 billion in inflows since it launched six months ago.

There was very little activity for the rest of the ETH ETFs, and Grayscale’s ETHE continues to slide, with the product losing $7.2 million on Monday.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato Readers on Bybit – Use this link to register and open a FREE $500 position with any currency!