Spot Bitcoin ETFs in the U.S. See Inflow Streak as Bitcoin Surges Above $100K
Spot Bitcoin exchange-traded funds in the United States returned to an inflow streak on Jan. 16 as Bitcoin cemented its position above $100K ahead of President-elect Donald Trump’s inauguration ceremony.
The latest data from SoSoValue reveals that the 12 spot Bitcoin ETFs recorded $626.15 million in inflows on Thursday, marking the second consecutive day of positive inflows, with over $1.3 billion entering the funds during this period.
Key Highlights:
- BlackRock’s IBIT attracted the most significant inflows, with $527.87 million coming into the fund.
- ARK and 21Shares’ ARKB also saw a notable inflow of $155.44 million.
- Grayscale’s GBTC was the only Bitcoin ETF to experience an outflow, with $69.97 million leaving the fund.
- Total trading volume for the 12 Bitcoin ETFs was $2.74 billion on Jan. 16.
Bitcoin surged past $102,000 on Jan. 17, solidifying its position above the $100,000 mark. This price increase was part of a broader market bull run driven by expectations that the incoming administration, led by President-elect Donald Trump, would adopt a more favorable regulatory stance towards digital assets.
President Trump has expressed interest in making cryptocurrencies a national priority and has even considered creating a government strategic stockpile of Bitcoin, similar to the U.S.’s reserves of gold and oil, to strengthen the country’s financial landscape.
As of now, Bitcoin (BTC) is trading at $101,408 per coin, up 2% from previous levels.