How Bitcoin ETFs Continue Their Bullish Streak with $439M Inflows
Despite the broader market’s downward trend, Bitcoin ETFs are showing no signs of weakness as they have seen inflows for the ninth consecutive day.
BlackRock’s spot Bitcoin ETF IBIT has seen the largest inflows over the past day.
Bitcoin ETF continues bullish momentum
Data from SoSoValue showed that the Bitcoin ETF extended its gains after recording a ninth consecutive day of positive inflows on December 10. Last week, all 12 funds recorded their second-largest weekly inflows, reaching $2.73 billion. Despite the broader market clearing this week, ETF investors appear to be highly bullish on these funds.
On Tuesday, these ETFs attracted $439.56 million, BlackRock’s IBIT Inflows were $295.63 million, followed by Fidelity’s FBTC with $210.48 million.
Meanwhile, Grayscale’s GBTC outflows exceeded $60 million. Nonetheless, net inflows of $400 million confirmed strong investor interest in U.S. spot Bitcoin ETF.
The total net assets of these ETFs have exceeded US$107.76 billion, accounting for 5.65% of Bitcoin’s total market capitalization. Even more interestingly, these funds currently hold There are more Bitcoins than Satoshi Nakamoto.
November, Bitcoin ETF hits record $6.1 billion Inflows were the highest monthly since its launch in January. Inflows totaled nearly $4 billion in December, and if momentum continues, funding could hit a new record this month.
Ethereum ETF It didn’t disappoint, with daily inflows exceeding $305 million on Tuesday. But the same cannot be said for the rest of the market.
Cryptocurrency liquidations surge into billions
Despite the growth in the ETF market, liquidations have been increasing over the past few days as Bitcoin has been unable to hold above $100,000. Bitcoin dragged down the rest of the market as the total cryptocurrency market capitalization took a hit. Major altcoins like XRP and Solana Bitcoin losses were also reflected.
The market recorded $1.7 billion in liquidations on December 9 alone, as Bitcoin prices fell to around $97,000 after hitting $100,000, according to Coinglass.
The sell-off continued into this week, with liquidations totaling more than $2.5 billion in the past three days.
However, at press time, Bitcoin has recovered somewhat and is trading at around $100,555, up 5.06% in the past 24 hours. If Bitcoin can stay above the $100,000 mark, the largest cryptocurrency can continue to solidify its place in institutional portfolios.
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