U.S. Spot Bitcoin ETFs See $676M in Inflows as Holdings Surpass 1M BTC

U.S. spot Bitcoin exchange-traded funds (ETFs) witnessed an impressive $676 million in inflows on Tuesday, nearly doubling Monday’s $353.67 million.

Courtesy of the continued inflows, the total holdings have now exceeded one million BTC, according to data from SoSoValue.

Asset managers of these ETFs currently oversee $104.25 billion in net assets, roughly equivalent to 1,076,610 BTC—close to the 1.1 million BTC believed to belong to Bitcoin’s enigmatic creator, Satoshi Nakamoto.

BlackRock’s Fund Dominates Inflows

BlackRock’s iShares Bitcoin Trust ETF (IBIT) dominated the day’s inflows, attracting $693.25 million in capital.

Fidelity’s Wise Origin Bitcoin Fund followed, securing $52.17 million.

Despite the overall positive trend, ARK 21Shares Bitcoin ETF (ARKB) experienced $93.5 million in outflows on the same day.

Meanwhile, the Grayscale Bitcoin Trust ETF reported no net changes in asset flows, continuing to hold approximately $20.6 billion. This pales compared to IBIT’s commanding $48.5 billion.

November proved to be a record-breaking month for Bitcoin ETFs, with $7.6 billion in net inflows.

Market analysts attribute this surge to multiple factors, including shifting political dynamics.

📨 Just in 📄

**Bitcoin & Ethereum Spot-ETF Flows – December 3, 2024**

Yesterday saw a significant influx into Bitcoin Spot ETFs, with net inflows reaching $676 million, equating to around 7,050 BTC. Here are the highlights:

– **BlackRock:** $693.3 million
– **ARK:** -$93.5…

— Merdan Halilovic (@merdannp) December 4, 2024

Regulatory approvals have also played a pivotal role.

The U.S. Securities and Exchange Commission’s green light for certain funds has provided a more secure environment for investors to engage with Bitcoin ETFs, further boosting adoption.

The trend is not limited to Bitcoin.

Ethereum spot ETFs also gained traction on Tuesday, drawing $133 million in inflows, according to Valentin Fournier, a digital asset intelligence expert at BRN.

Bitcoin ETFs See $6.4 Billion in Inflows in November

November was a historic month for Bitcoin ETFs in the United States, with investors pouring $6.4 billion into spot BTC ETFs.

The surge in inflows coincided with a month-long rally that saw Bitcoin’s price soar by 45%, reaching an all-time high of $99,000.

Data from Farside Investors revealed that BlackRock’s iShares Bitcoin Trust ETF dominated the inflows, accounting for $5.6 billion, or nearly 87% of the total.

Other major contributors included Fidelity’s Wise Origin Bitcoin Fund, which attracted $962 million, Grayscale’s Bitcoin Mini Trust ETF with $211.5 million, and the VanEck Bitcoin ETF at $71.2 million.

The bullish momentum was driven by strong market sentiment, with Bitcoin’s price climbing from $68,000 at the start of November to its record-breaking peak.

Analysts believe the consistent inflow of funds from both institutional and retail investors will sustain the ongoing rally as Bitcoin enters a critical price discovery phase.

Despite the inflows, some ETFs recorded significant outflows, totaling $411 million.

The Grayscale Bitcoin Trust ETF led the losses, with $364 million in outflows, followed by Bitwise Bitcoin ETF at $40.4 million and Valkyrie Bitcoin Fund at $6.8 million.