U.S. Bitcoin ETFs See Surge in Trading Volume Amid Price Drop
On December 5, U.S. spot Bitcoin exchange-traded funds experienced a significant increase in trading volume, reaching $7.1 billion. This surge, amounting to a 50% rise from the previous day, coincided with Bitcoin’s price dropping below $100,000.
SoSoValue data reveals that 12 spot Bitcoin ETFs received net inflows of $766.66 million on December 5, continuing their streak of positive flows for the past six days, totaling over $2.7 billion.
Leading the pack in inflows was BlackRock’s IBIT, attracting $770.51 million. Other notable contributors included Grayscale Bitcoin Mini Trust with $95.35 million, Fidelity’s FBTC with $47.47 million, and ARK and 21Shares’ ARKB with $12.32 million.
However, some ETFs experienced outflows, with Grayscale’s GBTC and Bitwise’s BITB seeing $148.78 million and $10.22 million leaving the funds, respectively. The remaining ETFs reported no flow changes on the day.
The total trading volume for these ETFs exceeded $7.1 billion, a significant increase compared to the previous day’s $4.71 billion.
Despite the surge in trading volume, Bitcoin’s price dropped over 10% from its record high of $103,607 on December 5 to an intraday low of $92,980 on December 6, before rebounding slightly to over $98,000. The cryptocurrency remains 4% lower over the past 24 hours.
Ether ETFs Break Records with Inflows
On the same day, U.S.-listed spot Ether ETFs saw record-breaking inflows of $428.44 million, marking the largest single-day influx since their launch on July 23. This surpassed the previous record of $333.92 million set on November 29.
The nine Ether ETFs have now seen nine consecutive days of positive net inflows, accumulating over $1.3 billion in the past two weeks. BlackRock’s ETHA led the way with a record $292.69 million in inflows, bringing its total to $2.64 billion.
Additional contributions came from Fidelity’s FETH with $113.61 million, Grayscale Ethereum Mini Trust with $30.69 million, and Bitwise’s ETHW with $6.58 million. However, Grayscale’s ETHE experienced outflows of $15.12 million.
These inflows coincide with Ether’s price rally, reaching an eight-month high of $3,946 on December 5, reflecting a 14.5% increase over the past two weeks. Currently, Ether is trading at $3,880.