Outside Source
Spot Bitcoin exchange-traded funds in the United States recorded nearly $1 billion in inflows on Jan. 6 as Bitcoin managed to recover to the $102k level.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded inflows of $987.06 million on Monday, marking their second straight day of inflows. Over these two days, the ETFs saw over $900 million in inflows each day, totaling nearly $1.89 billion.
The recent jump in inflows nearly offset the streak of low demand observed in the latter half of December, during which the ETFs experienced approximately $1.9 billion in net outflows between Dec. 19 and Jan. 2.
Meanwhile, the inflows seen on Monday, Jan. 6 were led by Fidelity’s FBTC which saw $370.24 million entering the fund followed by BlackRock’s IBIT and ARK 21Shares’ ARKB which attracted $209.08 million and $152.92 million of investors’ money respectively.
Biwise’s BITB, Grayscale’s spot BTC ETFs with the tickers GBTC and BTC also contributed to the positive momentum as they recorded $75.23 million, $73.79 million and $71.19 million respectively.
More modest positive flows were seen from VanEck’s HODL, Franklin Templeton’s EZBC and Valkyrie’s BRRR which drew in $17.33 million, $8.88 million and $8.38 million on the day. The remaining three BTC ETFs remained neutral.
The total daily trading volume for these investment products stood at $3.96 billion on Jan. 6 much higher than the $2.59 billion recorded the previous day.
The strong inflows experienced on Monday came as Bitcoin continued its upward climb, managing to surge past the $102,000 level which drove fresh enthusiasm and heightened institutional interest in Bitcoin ETF products once again.
Meanwhile, last December was a standout month for spot Bitcoin ETFs in the US, with funds accumulating around 51,500 BTC—approximately 272% more than the 13,850 new coins that entered circulation during the month. Momentum was fueled by strong spot market activity, driving Bitcoin to an all-time high of $108,135 on Dec. 17, according to data from crypto.news.
At press time Bitcoin (BTC) was exchanging hands at $101,674 up 2.2% over the past 24 hours.
This article first appeared at crypto.news
