Bitcoin ETFs Record $675.97 Million Inflow, Total Holdings Near 1.083 Million BTC
On December 3, Bitcoin spot exchange-traded funds (ETFs) in the United States recorded inflows of $675.97 million in a single day, a 90% increase from the previous day's $353.67 million, indicating rising institutional demand for Bitcoin #BTC exposure.
According to data from blockchain ETF tracker SoSoValue, total net inflows over four days have exceeded $1.45 billion, approaching the Bitcoin holdings of Satoshi Nakamoto, the creator of Bitcoin.
A Closer Look at the Numbers
BlackRock’s iShares Bitcoin Trust (IBIT) leads the US Bitcoin ETF market, with $693.25 million in inflows on Tuesday, increasing its holdings beyond 500,000 BTC. This amount represents about 2.38% of Bitcoin's total circulating supply and has resulted in nearly $50 billion in assets under management within a year of launch.
Fidelity’s Wise Origin Bitcoin Trust (FBTC) accumulated $52.17 million, reaching a cumulative net inflow of $11.53 billion. Other notable ETFs include VanEck’s HODL and Bitwise’s BITB, attracting $16.21 million and $7.8 million, respectively. In contrast, ARK and 21Shares’ ARKB experienced outflows totaling $93.47 million.
Bitcoin ETFs Nearing a Symbolic Milestone
The combined holdings of US spot Bitcoin ETFs now total 1.083 million BTC, just 13,000 BTC short of Satoshi Nakamoto’s estimated holdings of 1.096 million BTC. These ETFs are poised to become the largest single holders of Bitcoin, requiring an additional $1.23 billion at current market prices to achieve this status.
US Spot Listed ETFs just 13k #Bitcoin away from Satoshi holdings.
1.096M Satoshi
1.083M U.S. ETFs
They are gonna flip it in under a year.
Global ETPs hold 1.2M BTC@NateGeraci pic.twitter.com/X6WXEbL7Lo— James Van Straten (@btcjvs) December 3, 2024
This year has seen ETFs surpass corporate entities like MicroStrategy in Bitcoin holdings, emphasizing their growing influence in the crypto market. Despite record inflows, Bitcoin's price remained stable at $96,547, reflecting a modest 1.1% increase in the past 24 hours. The market appears cautious, with investors waiting for factors to push Bitcoin past the $100,000 threshold.
ETF trading volumes declined to $2.93 billion from $3.91 billion the previous day, suggesting a consolidation phase in the broader market.
Expanding Institutional Interest in Crypto Funds
Institutional interest in crypto extends beyond Bitcoin ETFs, with Ethereum spot ETFs recording $132.65 million in daily inflows. Cumulative net inflows for these funds reached $730.21 million as of December 3.
BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH) contributed significantly, with ETHA seeing inflows of approximately $65.29 million and FETH recording $73.22 million. These figures reflect the growing appeal of Ethereum investment vehicles alongside Bitcoin ETFs, highlighting expanding institutional crypto adoption.