The momentum for Bitcoin ETFs remains strong, with U.S.-based spot Bitcoin exchange-traded funds (ETFs) recording their tenth consecutive day of inflows on Dec. 11. During this period, $223.03 million flowed into Bitcoin ETFs, coinciding with Bitcoin’s surge past the $100,000 mark.
ETF Inflows Breakdown
According to data from SoSoValue, Fidelity’s FBTC led the pack with $121.9 million in new investments, marking its ten-day streak of continuous inflows. Other significant contributors included:
- ARK and 21Shares’ ARKB fund: $52.67 million in inflows.
- Grayscale’s GBTC: $20.13 million in inflows.
- Grayscale Bitcoin Mini Trust: $15.74 million.
- Biwise’s BITB: $12.16 million.
- VanEck’s HODL fund: $2.87 million.
However, Valkyrie’s BRRR fund reported outflows of $2.44 million, the only exception in an otherwise bullish trend.
Market Performance
The total trading volume for Bitcoin investment products stood at $3.94 billion on Dec. 11, slightly lower than the previous day’s $3.97 billion. Net inflows into the 12 BTC ETFs totaled $34.58 billion.
Bitcoin’s price rally played a crucial role in driving these inflows. The cryptocurrency hit a high of approximately $102,000 amid expectations of a Federal Reserve interest rate cut following recent U.S. inflation data. At press time, Bitcoin was trading at $100,769, up 3.3% over the past 24 hours.
Ethereum ETFs Lag Behind
While Bitcoin ETFs surged, Ethereum ETFs experienced a slowdown. Net inflows into Ethereum ETFs dropped significantly, with $102.03 million recorded on Dec. 11 compared to $305.74 million the previous day. Notably, BlackRock’s ETHA fund attracted $74.16 million, while Grayscale’s ETHE fund reported outflows of $2.26 million.
Despite this, Ethereum’s price also saw a rise, trading at $3,916, up 7.2% in the past 24 hours.
Crypto Market Outlook
Bitcoin ETFs continue to draw strong interest, underscoring the growing confidence in cryptocurrency investment products. As Bitcoin maintains its rally above $100K, market sentiment appears poised for further growth, with ETF inflows serving as a key indicator of investor optimism.
