Spot Bitcoin ETF Inflows Surge to 6-Week High

On the sixth of January Bitcoin ETFs in the USA saw the highest amount of inflow since November 21st, with around $978 million entering which is equivalent to 9,577 BTC.

Whereas, on January 3rd $908 million were invested which resulted in a singular day influx of over $900 million. All in all, this resulted in a total investment of $ 1.88 billion which nearly eradicated the $1.97 billion outflow that was experienced since the 19th of December.

Investments Outstrip Bitcoin Production:

Regarding inflows, Fidelity’s FBTC fund experienced the highest at $370 million, Blackrock’s IBIT fund followed closely with $209 million then Ark 21Shares at $153 million. Likewise, Grayscale’s GBTC and BTC mini trust, along with other monetarily smaller funds VanEck and Franklin also hopped on the train of making over $70 million as a collective.

When taking into account the previous two days, there has been an average inflow of 9,000 BTC flowing into spot Bitcoin ETFs which is a steep increase given the average daily production of 450 BTC.

Bloomberg’s ETF analyst, Eric Balchunas, predicted that BTC ETFs would take a big blow and stay around $100k but to his surprise, the ETF market, in fact, surged and with some hefty inflows close to 1 billion they not only recovered the $100k mark but skyrocketed past it. The uptick is rather complimented by the impressive 10% rise in Bitcoin since the turn of the year which is said to have reached an intraday high of 102,512 at the start of Tuesday’s Asian trading session.

ETH ETF Resurgence

Like the Bitcoin market, Spot Ethereum ETFs matched the low inflow of $128.7 million in two weeks with the surge of $370 million. Bringing its aggregate inflows close to $3.6 billion and predicting massive amounts of inflow in the coming months. As for Other ETH ETFs, there was barely any movement.