Demand for spot Bitcoin exchange-traded funds soared to its highest levels since launch, with a whopping $3.38 billion flowing in this week, and experts foresee even greater momentum once BTC surpasses $100,000.
With five straight days of positive inflows, catalyzed by hopes of an increasingly friendly regulatory environment under President-elect Donald Trump, the total net asset value of Bitcoin Spot ETFs reached $107.488 billion for the first time.
The most inflows for the week were recorded on Nov. 21, drawing $1 billion, which coincided with anti-crypto SEC Chair Gary Gensler confirming his exit, marking an end to his crypto-hostile tenure.
The largest inflows of the week, totaling $1 billion, came on Nov. 21 — the same day SEC Chair Gary Gensler, known for his tough stance on crypto, announced he would step down on Jan. 20.
Bitcoin (BTC) rallied to a new all-time high of $99,800 less than a day after the news broke but failed to breach the highly coveted $100,000 mark as inflows into the 12 spot BTC ETF offerings dipped to $490.35M on Friday, according to SoSoValue data.
Weekly inflows managed to hit an all-time high of $3.38 billion.
BlackRock’s IBIT, which has maintained a 12-day inflow streak, led the day’s activity with $513.2 million, as only half of the twelve funds managed to draw in capital.
Inflows into other funds were as follows:
- Fidelity’s FBTC: $21.71 million.
- Valkyrie’s BRRR: $6.19 million.
- Grayscale’s Bitcoin mini trust: $5.72 million.
- VanEck’s HODL: $5.62 million.
- Invesco’s BTCO: $4.96 million.
Grayscale’s GBT
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Author: Rony Roy
