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Spot Bitcoin ETFs pull in $636 million as Bitcoin reaches new all-time high of $107,822
Bitcoin has hit a new all-time high of $107,822 per BTC, and the surge appears to have had a significant impact on Bitcoin Exchange Traded Funds (ETFs). According to recent data from Farside Investors UK, the 11-spot bitcoin ETFs recorded an astonishing inflow of $636 million on December 16.
This influx in funds is a stark contrast to previous days where outflows were seen. Grayscale’s GBTC, which has been bleeding funds since its conversion from a Bitcoin Trust Fund to an Exchange Traded Fund, surprisingly registered an inflow for the day, adding to the overall sum.
The data also reveals that Blacrock’s IBIT dominated the day with $418 million in inflows, accounting for over 70% of the total inflow. Fidelity’s FBTC trailed behind with a respectable $116 million.
The other notable ETFs, such as Ark 21 shares AKRB, Bitwise BITB, and Grayscale’s GBTC, saw significantly lower inflows at $47.7 million, $30.7 million, and $17.6 million respectively. Grayscale’s BTC, on the other hand, recorded the lowest inflow of the day with a mere $6.6 million.
The cumulative total net inflow for all Bitcoin ETFs now stands at a staggering $36.24 billion, with the total net asset value reaching $120.71 billion.
While some may be attributing the influx in funds to the rise of institutional investors, others have hinted that rumors surrounding a potential strategic Bitcoin reserve by the Donald Trump administration could also be playing a significant role in the price surge and subsequent ETF inflows.
Source: http://www.crypto-news.net
