Spot Bitcoin exchange-traded funds (ETFs) in the U.S. attracted a substantial $479.06 million in inflows on December 9, despite a sharp drop in Bitcoin’s price, which briefly fell below $95,000, contributing to a broader downturn in the crypto market.
Data from SoSoValue revealed that the latest inflows into 12 spot Bitcoin ETFs marked the eighth consecutive day of positive movement, bringing total inflows during this period to $3.6 billion. BlackRock’s IBIT ETF led the charge, securing $394.07 million in inflows, marking its seventh straight day of strong performance. Fidelity’s FBTC also performed well, attracting $175.47 million, while Grayscale’s Bitcoin Mini Trust saw a more modest $7.25 million in inflows.
However, not all Bitcoin ETFs saw gains. Bitwise’s BITB, ARK 21Shares’ ARKB, and Grayscale’s GBTC experienced outflows, losing $39 million, $34.3 million, and $24.44 million, respectively. The remaining Bitcoin ETFs saw no inflows on the day.
Despite the influx of capital into these ETFs, Bitcoin’s price displayed significant volatility. The cryptocurrency briefly dropped to below $95,000 from a high of $100,200, triggering a ripple effect across the crypto market. The broader market declined by 6.8% in the past 24 hours, leading to over $1.7 billion in liquidations, affecting more than 570,000 traders. As of press time, Bitcoin was down 1.4%, trading at $97,231.
Meanwhile, Ether ETFs continued their positive streak, recording $149.79 million in inflows on December 9, marking 11 consecutive days of gains. BlackRock’s ETHA led Ether ETFs with $155.37 million in inflows, followed by Fidelity’s FETH with $30.11 million. Grayscale Ethereum Mini Trust contributed an additional $8.83 million.
On the downside, Grayscale’s ETHE, Bitwise’s ETHW, and 21Shares’ CETH reported outflows of $27.39 million, $12.99 million, and $4.15 million, respectively. Ethereum followed Bitcoin’s downward trajectory, falling 4.1% in the past 24 hours to $3,728.
Despite market turbulence, the consistent inflows into both Bitcoin and Ether ETFs reflect growing institutional interest in cryptocurrency investment products.
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