The recent surge in interest for spot Bitcoin ETFs has continued into the new year, with investors showing increased attention to these investment products. This positive momentum has been bolstered by the recent inauguration of Donald Trump as the US president.
US-based spot Bitcoin ETFs have witnessed a substantial capital influx, with over $500 million in net inflows on January 24. This positive trend has also reflected in the cryptocurrency’s price, which has stabilized around $105,000 over the weekend.
Record Inflow of $517 Million in One Day for Bitcoin ETFs
Recent market data indicates that US-based spot Bitcoin ETFs accumulated a total net inflow of $517 million on January 24, marking the seventh consecutive day of positive capital inflow for these crypto investment products.
Leading the pack was the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw an inflow of over $186 million, solidifying its position as the second-largest BTC ETF. The ARK 21Shares Bitcoin ETF (ARKB) followed closely with an inflow of approximately $169 million, while BlackRock’s iShares Bitcoin Trust (IBIT) added more than $155 million in value.
Other notable Bitcoin ETFs with positive single-day performances included Grayscale Bitcoin Mini Trust (BTC) and WisdomTree Bitcoin Trust (BTCW), with $13 million and $2.79 million respectively. Bitwise Bitcoin ETF (BITB) was the only fund that experienced an outflow, withdrawing $8.6 million on Friday.
Despite this impressive single-day performance, US-based Bitcoin ETFs recorded a weekly inflow of $1.76 billion and have attracted $4.7 billion in capital over the past seven days. This influx has caught the attention of Bloomberg ETF experts, who highlighted the significant growth in the ETF market.
The spot bitcoin ETFs have been performing exceptionally well this year, with $4.2 billion in flows, accounting for 6% of all ETF flows. With a total net worth of $121 billion and a return rate of 127%, these ETFs have surpassed ESG assets and are on par with the gold market.
Bitcoin Price Analysis
Despite market uncertainty, the steady capital influx has helped Bitcoin maintain its value, with the cryptocurrency trading around $104,500 at the time of writing. There has been minimal movement in the price over the past 24 hours, indicating stability in the market.
