Bitcoin ETF Daily Inflows Neared $1 Billion
07 Jan, 2025 ● Crypto News
Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded nearly $1.9 billion in net inflows on Jan. 3 and Jan. 6, marking a sharp reversal after a period of low demand in late December.
On Jan. 6 alone, Bitcoin ETFs drew $978.6 million, led by the Fidelity Wise Origin Bitcoin Fund with $370.2 million.
BlackRock’s iShares Bitcoin ETF and the ARK 21Shares Bitcoin ETF followed with $209 million and $153 million in inflows, respectively, according to Farside Investors.
Other notable performers included the Bitwise Bitcoin ETF and Grayscale’s GBTC and BTC funds, which collectively saw over $70 million in inflows on the same day.
Meanwhile, the VanEck Bitcoin ETF and Franklin Bitcoin ETF reported $17.3 million and $8.9 million, respectively. ETFs issued by Invesco, Valkyrie, and WisdomTree recorded no inflows on Jan. 6, according to the data.
These two strong days of inflows nearly offset the $1.9 billion in net outflows recorded between Dec. 19 and Jan. 2.
Since their launch almost a year ago, spot Bitcoin ETFs have now accumulated $36.9 billion in net inflows.
BlackRock’s iShares Bitcoin ETF leads the pack with $37.4 billion in net inflows, followed by the Fidelity Wise Origin Bitcoin Fund with $12.4 billion.
By contrast, Grayscale’s converted GBTC fund has seen $21.4 billion in outflows.
A report from Binance on Oct. 25 revealed that nearly 80% of demand for spot Bitcoin ETFs has come from retail investors rather than institutions.
However, industry experts like Matt Hougan, Bitwise’s chief investment officer, anticipate greater institutional participation in 2025 as more clearinghouses for spot Bitcoin ETF trading become operational.
This increased institutional involvement is one reason behind Bitwise’s bullish $200,000 Bitcoin price projection for 2025. Similarly, VanEck predicts Bitcoin could surpass $180,000.
Sources:
https://cointelegraph.com/news/bitcoin-etfs-second-straight-day-inflows-above-900-million
