Bitcoin ETFs See Significant Inflows

Bitcoin exchange-traded funds (ETFs) experienced substantial inflows of around $479.06 million on December 9, even as Bitcoin’s price briefly fell below the $95,000 mark. This activity highlights sustained investor confidence in the digital asset market, despite the ongoing price volatility.

According to data from the SoSoValue platform, net inflows across 12 Bitcoin ETFs saw positive movement for the eighth consecutive day, accumulating a total of approximately $3.6 billion during this period.

Leading the pack was BlackRock’s IBIT ETF, which secured $394.07 million in inflows, maintaining superior performance for the seventh straight day. Fidelity’s FBTC fund also performed strongly, attracting $175.47 million in inflows. Meanwhile, the Grayscale Bitcoin Mini Trust experienced more modest contributions of $7.25 million.

On the flip side, some funds experienced outflows. Bitwise’s BITB fund saw a significant withdrawal of $39 million, while ARK’s ARKB fund and Grayscale’s GBTC fund recorded outflows of $34.3 million and $24.44 million, respectively. Other Bitcoin ETFs did not register any inflows or outflows on the same day.

Trading activity also surged, with the total trading volume for these ETFs reaching $4.35 billion, an increase from the previous day’s figure of December 8. This uptick in trading volume underscores a more active cryptocurrency market and the continued interest of American investors in digital assets, despite the challenges and uncertainties currently facing the market.

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