Spot Bitcoin ETFs See Inflows as Price Nears $100k
US spot Bitcoin exchange-traded funds (ETFs) experienced a significant influx of $1 billion in daily net inflows as the price of Bitcoin approached $100k.
Top Inflows:
- BlackRock’s IBIT attracted over $600 million
- Fidelity’s FBTC received $301 million
Combined Earnings:
The 12 spot Bitcoin ETFs collectively garnered $30.35 billion since their launch in January.
Key Highlights:
- BlackRock’s IBIT led in inflows with $608.41 million
- Fidelity’s FBTC followed with $300.95 million
- Grayscale’s GBTC recorded $7.8 million outflows
Market Trends:
Elevated trade in spot Bitcoin ETFs coincided with Bitcoin reaching $100k on November 22, fueling a bullish market trend.
Additionally, BlackRock’s options contracts launch, which generated nearly $2 billion on its first day, contributed to Bitcoin’s surge to over $94,000.
Future Outlook:
With the increasing popularity of spot Bitcoin ETFs, investors are increasingly using these platforms to hold Bitcoin assets. Bloomberg analyst Eric Balchunas noted that US Bitcoin ETFs have amassed $100 billion in assets, positioning them as major players in the market.
US bitcoin ETFs hit $100b in assets, with YTD flows nearing $30b, positioning them as significant holders in the market.
— Eric Balchunas (@EricBalchunas)
Market Update:
Recent market movements show Ethereum up by 7% at $3,285, Solana with a 20% increase at $253, and XRP rising by 60% to $1.44, according to CoinMarketCap.
