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- MicroStrategy Buys Bitcoin Again, Stock Falls
Key Takeaways
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- U.S. spot Bitcoin ETFs command $120.71 billion in BTC or 5.76% of its market cap.
- Bitcoin ETFs have earned almost $6 billion since Nov. 27, and ETH ETFs have earned $2.3 billion since Nov. 22.
- U.S. spot Ethereum ETFs now hold $14.28 billion in net assets or 2.93% of ETH’s market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are winning big as funds extend their record-setting inflow streaks amid soaring optimism in the crypto market.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs have reached day 13 of a record-breaking inflow streak after bagging a solid $636.85 million on Dec. 16, 2024. The streak has—so far—pulled a total of $5.9 billion since beginning on Nov. 27.
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As ever, BlackRock’s iShares Bitcoin Trust (IBIT) stands leagues above the competition, bagging $418.16 million in net inflows, raising its cumulative net inflows to $36.3 billion. With $57.69 billion in net assets, IBIT alone commands 2.75% of BTC’s market cap.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted $116.06 million in net inflows. With $12.43 billion in cumulative net inflows, FBTC ranks second under IBIT. However, now that FBTC commands $22.2 billion in net assets, it needs just $60 million or so more to overtake Grayscale’s long-held second position for net assets.
The ARK 21Shares Bitcoin ETF (ARKB) netted a cool $47.73 million, as did the Bitwise Bitcoin ETF (BITB) with $30.67 million.
Since the overall inflow streak began, the Grayscale Bitcoin Trust (GBTC) has only managed to see two days of net inflows, recording just $17.65 million on Dec. 16. The fund, which has seen its net assets cut in half through ceaseless exits, has a cumulative net outflow of $21 billion, and now holds $22.26 billion in net assets.
Relishing some minor but consistent gains, Grayscale’s Bitcoin Mini Trust picked up a modest $6.57 million in net inflows. Though this fails to pick up GBTC’s slack, the mini fund has seen a cumulative net inflow of $1.04 billion since launching in late July.
Ethereum ETFs
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Ethereum ETFs are finally having their moment as funds reach day 16 of their long-awaited inflow streak, which has officially ended months of underperformance. On Dec. 16, funds pulled a modest $51.13 million in net inflows, raising the streak total to over $2.3 billion since Nov. 22.
BlackRock’s dominant ETH fund, the iShares Ethereum Trust (ETHA), captured $30.72 million of the day’s inflows, raising its cumulative net inflows to $3.23 billion and net assets to $4.02 billion.
It’s followed by Bitwise’s Ethereum ETF (ETHW), which netted $8.73 million, boosting its cumulative net inflows to $415.37 million and net assets to a sturdy $507.05 million.
Just behind is the Grayscale Ethereum Mini Trust, which tallied $7.62 million in net inflows, raising the fund’s cumulative net inflows to $611.42 million. With $1.93 billion in net assets, Grayscale’s mini ETH fund has outperformed its mini BTC trust.
Fidelity’s Ethereum Fund (FETH) saw just $4.05 million in net inflows, though it remains ranked second for cumulative net inflows with $1.38 billion.
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