Bitcoin ETFs See $1.5B Inflows in December as BTC Surpasses $100K Milestone

Key Takeaways

• U.S. spot Bitcoin ETFs command $108.23 billion in BTC or 5.54% of its market cap. BlackRock’s  ETF accounts for 46.7% of this figure.
• Bitcoin is trading above $102,000 with a market cap of $2.04 trillion.
• U.S. spot Ethereum ETFs command $12.26 billion in net assets or 2.62% of its market cap.

Bitcoin (BTC) exchange-traded fund (ETF) inflows in December are set to challenge the record-breaking billions that poured in throughout November as BTC breaks above $100,000.

Bitcoin ETFs

As per SoSoValue data, Bitcoin ETFs garnered $556.82 million in net inflows on Dec. 4. That brings total inflows to a sturdy $1.59 billion this week.

Bitcoin ETF flows. Source: SoSoValue

Taking up almost the entirety of the day’s inflows, Blackrock’s iShares Bitcoin Trust (IBIT) pulled in $571.71 million in net inflows, bringing its cumulative net inflows to $44.34 billion, more than three times that of its nearest competitor.

Furthermore, IBIT now commands a whopping $50.59 billion in BTC.

Grayscale’s Bitcoin Mini Trust earned a modest $55.71 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC), which generated $17.27 million in net inflows. The Bitwise Bitcoin ETF (BITB) earned just $6.64 million.

Offsetting some of these gains and unable to capture any of the bullish sentiment from investors, the Grayscale Bitcoin Trust (GBTC) shed $94.31 million in net outflows.

The fund has seen $20.64 billion in cumulative net outflows, nearly halving its entire portfolio since launching in Jan.

BlackRock Dominance

Funds are kicking off December on a high note as BTC continues its historic climb beyond the coveted $100,000 price tag.

However, no fund has relished in the  gains more than BlackRock’s IBIT, which, with 2.59% of BTC’s market cap under its command, now possesses a BTC portfolio worth $50.59 billion.

BlackRock owes some thanks to the launch of IBIT options trading, which has heightened IBIT volumes significantly.

According to SoSoValue, BlackRock’s December inflows totaled $1.6 billion, essentially the entire net inflow for December so far.

Outflows from Ark 21Share Bitcoin ETF (ARKB), Grayscale, and others worked against these gains, though barely, as within three days, net inflows still stood at $1.59 billion.