Bitcoin Spot ETF Sees $637M in Net Inflows

On December 16, 2024, Bitcoin spot ETFs recorded a net inflow of $637 million, marking the 13th consecutive day of positive inflows. This sustained investment activity is a strong indicator of growing institutional confidence in Bitcoin, coinciding with its record-breaking price surge. Bitcoin reached a new all-time high of nearly $107,000, driven by several factors, including the influence of President-elect Donald Trump’s pro-crypto stance and his plans to establish a strategic Bitcoin reserve in the U.S., which has helped bolster market optimism.

Leading the charge in these inflows was BlackRock’s IBIT, which saw its largest one-day inflow of $418 million, bringing its total net inflows to a remarkable $36.3 billion. Following closely behind was Fidelity’s FBTC, which received $116 million in inflows, pushing its total to $12.4 billion. Other contributors include Grayscale’s GBTC, with a $17.65 million inflow, as well as Bitwise’s BITB and Ark’s ARKB, which show widespread institutional involvement in the sector.

The total net asset value (NAV) of Bitcoin spot ETFs has reached $120.7 billion, representing 5.76% of Bitcoin’s total market capitalization. Analysts suggest that, with the ongoing inflows and positive legislative shifts, Bitcoin’s value could potentially rise to $250,000 in the near future. This growth is supported by increasing institutional participation and favorable political developments, signaling a bullish outlook for Bitcoin in the coming months.