Bitcoin ETFs see continued inflows as BTC climbs back above $100K

Spot Bitcoin exchange-traded funds in the US recorded inflows for the tenth consecutive day on December 11; As Bitcoin rose above the $100,000 level, $223.03 million entered the funds.

According to SoSoValue data, the majority of inflows on December 11 went to Fidelity’s FBTC. FBTC extended its entry streak to ten days with a new investment of $121.9 million. ARK and 21Shares’ ARKB fund and Grayscale’s GBTC also contributed significantly, with inflows of $52.67 million and $20.13 million, respectively.

Additionally, Grayscale Bitcoin Mini Trust, Biwise’s BITB, and VanEck’s HODL funds received more modest inflows of $15.74 million, $12.16 million, and $2.87 million, respectively. However, Valkyrie’s BRRR fund was the only outlier, reporting outflows of $2.44 million on the day.

Other BTC ETFs remained neutral on December 11, including BlackRock’s IBIT, which has recorded $35.06 billion in inflows since its launch.

The total transaction volume of Bitcoin investment products stood at $3.94 billion on December 11; This was slightly below the $3.97 billion recorded the previous day. As of the report, total net inflows into the 12 BTC ETFs amounted to $34.58 billion.

These inflows coincided with Bitcoin’s recent rally, with the crypto asset surpassing $100,000 and reaching nearly $102,000. This increase comes as the latest inflation data in the US raises expectations for a potential interest rate cut by the Fed.

At the time of writing, Bitcoin (BTC) was trading at $100,769, up 3.3% in the last 24 hours.

Ether ETF inflows slow down

Spot Ethereum ETFs saw a slowdown in net inflows on December 11, with $102.03 million recorded; There was a significant decrease of 66% from the $305.74 million seen the previous day.

BlackRock’s ETHA fund attracted the majority of inflows, with $74.16 million entering the fund, according to data from SoSoValue. Grayscale Ethereum Mini Trust followed with $13.38 million in revenue. Other contributing companies included Biwise’s ETHW, VanEck’s ETHV, and Franklin Templeton’s EZET, which recorded inflows of $8.23 million, $5.6 million, and $2.91 million, respectively.

However, Grayscale’s ETHE fund reported an outflow of $2.26 million on December 11, bringing total outflows since launch to $3.5 billion.

Cumulative net inflows into Ethereum ETFs were $1.97 billion at the time of reporting.

Ethereum (ETH) also experienced a price increase in the past day, trading up 7.2% to $3,916 per coin. The broader cryptocurrency market was also in an upward trend; Total market value increased by 3.7% to $3.81 trillion.