Bitcoin ETFs roar back with second day of $900M+ inflows

United States-based spot Bitcoin exchange-traded funds recorded nearly $1.9 billion in total net inflows on Jan. 3 and Jan. 6, reversing a streak of low demand in the latter half of December. 

The Bitcoin ETFs attracted $978.6 million of investor’s money on Jan. 6, led by the Fidelity Wise Origin Bitcoin Fund at $370.2 million, while BlackRock’s iShares Bitcoin ETF and the ARK 21Shares Bitcoin ETF rounded out the top three with $209 million and $153 million, respectively, according to data from Farside Investors.

Bitwise Bitcoin ETF and Grayscale’s two spot Bitcoin ETFs, tickered GBTC and BTC, saw over $70 million in inflows on Jan. 6, while the VanEck Bitcoin ETF and Franklin Bitcoin ETF racked up $17.3 million and $8.9 million, respectively.

The spot Bitcoin ETFs issued by Invesco, Valkyrie and WisdomTree each recorded a “0” inflow on the day, according to the data.

Daily flows into the US spot Bitcoin ETFs between Dec. 19 and Jan. 6. Source: Farside Investors

The two strong days on Jan. 3 and Jan. 6 almost canceled out the $1.9 billion in net outflows seen between Dec. 19 and Jan. 2.

With the latest inflows, the spot Bitcoin ETFs have now accumulated $36.9 billion in net inflows since the products launched nearly 12 months ago.

BlackRock’s iShares Bitcoin ETF leads all with $37.4 billion in net inflows, followed by the Fidelity Wise Origin Bitcoin Fund at $12.4 billion. In comparison, Grayscale’s converted GBTC has bled $21.4 billion in outflows.

An Oct. 25 report from cryptocurrency exchange Binance found that nearly 80% of demand for the spot Bitcoin ETFs had come from retail, not institutions.

However, industry analysts such as Bitwise’s chief investment officer Matt Hougan expect more institutional involvement in 2025 when more clearinghouses for spot Bitcoin ETF trading come online.

That is one of the catalysts behind Bitwise’s bullish $200,000 Bitcoin price estimate for 2025, while VanEck expects Bitcoin to top $180,000.