On Wednesday, Dec. 18, the 12 spot bitcoin ( BTC) exchange-traded funds (ETFs) attracted $275.39 million in positive inflows, even as the broader cryptocurrency market faced a downturn and bitcoin briefly dipped below $100,000.
Crypto Resilience: ETFs Attract Millions Despite Market Woes
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Ether ETFs Record Modest Gains as Bitcoin Funds Shine
Both spot bitcoin ETFs and their ether ( ETH) counterparts reported gains on Dec. 18, despite the turbulent crypto environment. According to data from sosovalue.com, BTC-focused funds raked in $275.39 million. Blackrock‘s IBIT fund stood out, pulling in $359.63 million. However, this was partially counterbalanced by four other funds experiencing outflows. Grayscale’s GBTC suffered the most, losing $35.94 million.
Invesco’s BTCO followed with a $25.17 million outflow, while Bitwise’s BITB saw $16.56 million flow out. Ark Invest’s and 21shares’ ARKB fund shed $6.58 million. Despite these losses, IBIT’s single-day inflow raised the year-to-date net total since Jan. 11, 2024, to $37.01 billion. Wednesday also saw $5.86 billion traded across the 12 funds, which collectively hold $115.78 billion worth of bitcoin—equivalent to 5.80% of the circulating supply.
Ether-focused funds mirrored this trend, adding $2.45 million in inflows on Wednesday, with Blackrock’s ETHA leading the way by absorbing $81.91 million. However, not all ether funds fared well. Grayscale’s ETHE led the losses, with $49.2 million withdrawn, followed by a $15.64 million outflow from its Ether Mini Trust and $14.62 million from Bitwise’s ETHW.
These net gains brought the cumulative inflows for ether funds since July 23 to $2.46 billion. Sosovalue.com’s data indicated $994.22 million in trade volume for the nine ether funds on Wednesday. Combined, these funds now hold $13.17 billion in ETH reserves, representing 2.96% of the cryptocurrency’s market cap.
The continued inflows into bitcoin and ether ETFs highlight investor confidence in these assets, even amid market turbulence. As these funds grow their holdings, their influence on the crypto market’s dynamics and liquidity will likely become even more pronounced.
