The 11 spot Bitcoin ETFs recorded their highest number of inflow in several months pulling in a staggering $908 million on the last day of trading last week.
The $908 million inflow is the highest recorded inflow for the Bitcoin ETFs in several months of trading.
Six out of the 11 spot Bitcoin ETFs recorded inflows with no outflows recorded for the day.
This is also the first time the Bitcoin ETFs have not recorded a single outflow for the day in several months.
Farside Investors UK revealed that Fidelity’s FBTC led the inflows for the day pulling in a staggering $357 million.
Blackrock IBIT followed suit with $253 million in inflows while Ark 21 shares ARKB pulled 222.6 million.
Minimal inflows were recorded by Bitwise BITB, Grayscale’s BTC, and VanEck’s HODL.
The Three ETF products pulled in $61.1 million, $8.7 million, and $5.6 million respectively.
The $908 million inflow by the Bitcoin ETFs is the first net day of inflow of the year.
The first day of the year was a public holiday while the second day witnessed a net outflow of $242.3 million.
Bitcoin Price Analysis
Bitcoin has broken from the stagnant price level at which it spent the festive Christmas season. At the time of the report, the primary crypto asset is changing hands for $99,119 surging by 1.3% in the past 24 hours.
The crypto asset is now 8.3% down from its all-time high of $108,135.
As Donald Trump is set to take office on Jan 20, The question of a strategic Bitcoin reserve for the United States is a front-burner issue given the expected effect of such development on the price of Bitcoin.
Bitwise CIO Matt Hougan believes a strategic Bitcoin reserve for the US will spur other countries to follow suit resulting in Bitcoin surging to as high as $500,000.
