Bitcoin and Ether ETFs Record Significant Inflows Amid Market Volatility

On December 5, U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a surge in trading volume, reaching $7.1 billion, a 50% increase from the previous day. This rise in trading volume coincided with a drop in Bitcoin’s price, which fell below $100,000.

According to data, the 12 spot Bitcoin ETFs recorded net inflows of $766.66 million on December 5, extending their six-day streak to a total of over $2.7 billion. Bitcoin ETFs have been gaining traction, with BlackRock’s IBIT leading the pack for the fifth consecutive day, amassing $770.51 million in inflows.

Other notable contributors to the inflows included Grayscale Bitcoin Mini Trust with $95.35 million and Fidelity’s FBTC with $47.47 million. ARK and 21Shares’ ARKB also chipped in a modest $12.32 million.

Outflows and Trading Volume

However, not all ETFs mirrored the inflow trend. Grayscale’s GBTC and Bitwise’s BITB recorded outflows of $148.78 million and $10.22 million, respectively, while the remaining ETFs saw zero flows on the day.

The total trading volume for these ETFs saw a significant jump to $7.1 billion, which is over 50% higher than the $4.71 billion recorded the previous day.

Bitcoin Price Volatility

This surge in trading volume and inflows came amid a sharp drop in Bitcoin’s price, which fell over 10% from a record high of $103,607 on December 5 to an intraday low of $92,980 on December 6, before recovering slightly to over $98,000. The flagship cryptocurrency remains 4% lower over the past 24 hours.

Ether ETFs Break Records with Historic Inflows

Meanwhile, Ether ETFs have been on a historic streak. On December 5, U.S.-listed spot Ether ETFs recorded an aggregate inflow of $428.44 million, the largest single-day inflow since their launch on July 23.

This broke the previous record of $333.92 million set on November 29. The nine Ether ETFs have now posted nine consecutive days of net positive inflows, accumulating over $1.3 billion in the past two weeks.

BlackRock’s ETHA dominated the day’s inflows with a record $292.69 million, bringing its total to $2.64 billion. Fidelity’s FETH added $113.61 million, while Grayscale Ethereum Mini Trust and Bitwise’s ETHW contributed $30.69 million and $6.58 million, respectively.

Ether Price Rally

This wave of inflows coincides with Ether’s price rally. The cryptocurrency hit an eight-month high of $3,946 on December 5, representing a 14.5% gain over the past fortnight. At press time, Ether was trading at $3,880.

For more information on the cryptocurrency market, visit Global Crypto News for the latest updates and insights.

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