Bitcoin ETFs roar back with second day of $900M+ inflows

While the spot Bitcoin ETFs smashed industry expectations in 2024, the products finished poorly with outflows in six of the last eight trading days.United States-based spot Bitcoin exchange-traded funds recorded nearly $1.9 billion in total net inflows on Jan. 3 and Jan. 6, reversing a streak of low demand in the latter half of December.

The Bitcoin ETFs attracted $978.6 million of investor’s money on Jan. 6, led by the Fidelity Wise Origin Bitcoin Fund at $370.2 million, while BlackRock’s iShares Bitcoin ETF and the ARK 21Shares Bitcoin ETF rounded out the top three with $209 million and $153 million, respectively, according to data from Farside Investors.

Bitwise Bitcoin ETF and Grayscale’s two spot Bitcoin ETFs, tickered GBTC and BTC, saw over $70 million in inflows on Jan. 6, while the VanEck Bitcoin ETF and Franklin Bitcoin ETF racked up $17.3 million and $8.9 million, respectively.

The spot Bitcoin ETFs issued by Invesco, Valkyrie and WisdomTree each recorded a “0” inflow on the day, according to the data.The two strong days on Jan. 3 and Jan. 6 almost canceled out the $1.9 billion in net outflows seen between Dec. 19 and Jan. 2.

With the latest inflows, the spot Bitcoin ETFs have now accumulated $36.9 billion in net inflows since the products launched nearly 12 months ago.

BlackRock’s iShares Bitcoin ETF leads all with $37.4 billion in net inflows, followed by the Fidelity Wise Origin Bitcoin Fund at $12.4 billion. In comparison, Grayscale’s converted GBTC has bled $21.4 billion in outflows.#BTC100KTrumpEffect #BinanceMegadropSolv #BinanceMegadropSolv #MicroStrategyAcquiresBTC $BTC $ETH $XRP