Bitcoin ETF Inflows Reach $479 Million Amid Market Volatility

On December 9, spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw significant inflows of $479.06 million, despite a brief price drop below $95,000. This marked the eighth consecutive day of positive movement, with cumulative inflows totaling $3.6 billion.

Leading the Charge: BlackRock’s IBIT and Fidelity’s FBTC

BlackRock’s IBIT led the pack for the seventh straight day, attracting $394.07 million in inflows. Fidelity’s FBTC also performed strongly, securing $175.47 million in inflows. Grayscale Bitcoin Mini Trust added $7.25 million in more modest contributions.

However, these inflows were partially offset by outflows from Bitwise’s BITB, ARK 21Shares’ ARKB, and Grayscale’s GBTC, which reported outflows of $39 million, $34.3 million, and $24.44 million, respectively. The remaining BTC ETFs saw zero flows on the day.

Market Volatility and Liquidations

The total trading volume for these Bitcoin ETFs surged to $4.35 billion, surpassing the volume recorded on December 8. Despite the strong ETF inflows, Bitcoin’s price experienced significant volatility, briefly dropping to under $95,000 from an intraday high of $100,200. This flash crash triggered a ripple effect in the broader crypto market, which declined by 6.8% over the past day.

This downturn led to liquidations exceeding $1.7 billion, impacting more than 570,000 traders. At press time, the flagship crypto asset was still down 1.4%, exchanging hands at $97,231.

Ether ETFs Continue Positive Trend

Ether ETFs continued their positive trend, recording $149.79 million in inflows on December 9, extending their streak to 11 consecutive days. BlackRock’s ETHA led with $155.37 million in inflows, followed by Fidelity’s FETH with $30.11 million. Grayscale Ethereum Mini Trust contributed $8.83 million in additional inflows.

Grayscale’s ETHE, Bitwise’s ETHW, and 21Shares’ CETH reported outflows of $27.39 million, $12.99 million, and $4.15 million, respectively. The remaining ETH ETFs remained neutral. Ethereum mirrored Bitcoin’s decline, falling 4.1% over the past 24 hours to trade at $3,728.

Investing in cryptocurrencies and ETFs involves risks, and it’s essential to stay informed and up-to-date on market trends and analysis.

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