U.S. spot Bitcoin exchange-traded funds (ETFs) saw nearly $676 million of inflows on Tuesday—nearly double the $353.67 million reported on Monday, according to data from SoSoValue.
At the time of publication, total assets owned by asset managers who manage the U.S. Bitcoin ETF spot contracts stood at $104,25 billion. This is equivalent to around 1,076,609.7 BTC—close to the estimated 1.1 million BTC held by wallets belonging to Bitcoin’s pseudonymous creator Satoshi Nakamoto.
BlackRock iShares Bitcoin Trust ETF (IBIT), which is a BlackRock-sponsored ETF, was the leader with a total of $693.25 Million in net capital on trading day. Fidelity’s Wise Original Bitcoin Fund followed with an inflow of $52.17million.
ARK 21Shares Bitcoin ETF (ARKB), despite a very positive trading day, lost $93.5 Million in capital Tuesday.
Grayscale Bitcoin Trust ETF did not see any net asset flows yesterday. In late August, after controlling nearly the entire U.S. Bitcoin Spot ETF market when it was converted from a fund with a closed end, the ETF lost this stronghold. The contract currently holds $20.6billion, while the market leader IBIT has nearly $48.5billion.
Bitcoin ETF Overview "surge"
Bitcoin ETFs have been booming lately, with net monthly inflows of $7.6 Billion in November.
Alex Obchakevich is the founder and CEO of Obchakevich Research. Decrypt The attribution of “significant surge in investments” Donald Trump, the Republican Party and their recent election victory in the U.S. He claimed that “Trump's position is as pro-crypto as possible,” Increase market confidence to attract institutional investors.
“The growth was also greatly influenced by the approval of funds by the regulator, which freed investors' hands to interact with Bitcoin ETFs in a regulated environment,” He concluded.
Valentin Fournier of BRN’s digital asset intelligence noted Tuesday’s announcement. “robust” Ethereum ETFs have also seen a $133 Million inflow into their funds.
Obchakevich stated that the increased interest in Crypto ETFs might allow for new crypto sectors to be captured. “and go beyond the crypto community.” He highlighted this “we already have a recent case study from Tether, where a financial transaction to buy oil was conducted using USDT.”
“We are on the verge of big changes, where crypto ETFs are an important part of one big puzzle,” Then he said, “It’s over.”