🌎 Bitcoin ETFs See Fourth Day of Inflows

US Spot Bitcoin ETFs Record Fourth Consecutive Day of Inflows

On December 2, spot Bitcoin exchange-traded funds (ETFs) in the United States experienced their fourth consecutive day of inflows, with a total of $353.67 million entering the funds.

BlackRock’s IBIT fund led the charge, recording a significant $338.33 million in inflows. Other notable contributors included Fidelity’s FBTC, with $25.14 million, and ARK’s ARKB, with $17.24 million.

Modest Contributions and Outflows

Grayscale Bitcoin Mini Trust and Franklin Templeton’s EZBC also reported inflows, albeit more modest, with $6.36 million and $5.56 million, respectively. However, these gains were partially offset by significant outflows from Grayscale’s flagship GBTC fund, which lost $28.11 million, and VanEck’s HODL fund, which saw $10.85 million exit.

The remaining Bitcoin ETFs remained neutral for the day, with no significant inflows or outflows reported.

Trading Volumes Surge

Despite the positive inflow trend, Bitcoin prices dipped slightly, trading at $96,101, down 0.5% on the day. Trading volumes for the 12 Bitcoin ETFs surged to $3.91 billion, representing a significant 55.78% increase from the previous trading day.

Ethereum ETFs Experience Sharp Decline in Inflows

In contrast, Ethereum ETFs experienced a substantial drop in inflows, recording only $24.23 million on December 2. This marked a sharp decline from the previous record-breaking day when $332.92 million poured into the funds.

Leadership Among Ethereum ETFs

BlackRock’s ETHA fund maintained leadership among Ethereum ETFs, attracting $55.92 million in inflows. Fidelity’s FETH also recorded $19.9 million, contributing to the day’s modest total.

However, these gains were overshadowed by significant outflows from Grayscale’s ETHE fund, which reported a loss of $44.36 million. Invesco’s QETH fund added to the decline, shedding $7.23 million.

Trading Volumes Uptick

Five other Ethereum ETFs reported zero net flows, emphasizing the cooling investor interest. Nonetheless, trading volumes for the nine Ethereum ETFs saw a notable uptick, reaching $644.05 million—more than double the previous day’s activity.

At press time, Ethereum was trading at $3,657, down 0.6% on the day.

Investor Takeaways

US spot Bitcoin ETFs experienced their fourth consecutive day of inflows, with a total of $353.67 million entering the funds.
BlackRock’s IBIT fund led the charge, recording a significant $338.33 million in inflows.
Ethereum ETFs experienced a substantial drop in inflows, recording only $24.23 million.
Trading volumes for both Bitcoin and Ethereum ETFs surged, with a 55.78% increase for Bitcoin and a notable uptick for Ethereum.