Trading Volume for Bitcoin ETF Surges 50% as BTC Price Falls Below $100K

On December 5, Bitcoin spot exchange-traded funds (ETFs) based in the U.S. experienced a dramatic trading volume spike of $7.1 billion, an increase of 50% compared to the day before, amidst Bitcoin’s value tumbling below the $100,000 mark.

SoSoValue’s research indicates that December 5 saw the 12 Bitcoin spot ETFs achieving net inflows amounting to $766.66 million, thereby continuing their growth trend over six days, cumulating to an infusion of upward of $2.7 billion.

Leading the way for a fifth uninterrupted day, BlackRock’s IBIT garnered inflows totaling $770.51 million. Other considerable inflows were reported by Grayscale Bitcoin Mini Trust and Fidelity’s FBTC, with $95.35 million and $47.47 million respectively, whilst ARK and 21Shares’ ARKB added $12.32 million collectively.

Conversely, certain ETFs broke away from the pattern of positive inflows. Grayscale’s GBTC and Bitwise’s BITB experienced withdrawals of $148.78 million and $10.22 million correspondingly, while no movement was observed in the rest of the ETFs that day.

The reported total transaction volume for these Bitcoin ETFs saw a noteworthy increase to $7.1 billion, a leap of over 50% compared to the $4.71 billion registered on the preceding day.

This voluminous activity coincided with a significant downtrend in the price of Bitcoin (BTC), which plunged by over 10% from a peak of $103,607 to an intraday low of $92,980 on December 6 before rebounding to above $98,000. This drop represents a 4% decline in the last 24 hours from the prominent digital currency.

Record-Breaking Inflows for Ether ETFs

Alternatively, Ether ETFs have been witnessing unprecedented growth. As of December 5, spot Ether ETFs in the U.S. reported accumulated inflows of $428.44 million, the highest inflow for a single day since their initiation on July 23. This surpassed the earlier high-water mark of $333.92 million, set on November 29.

The collection of nine Ether ETFs has secured continuous inflows over nine days, aggregating a remarkable sum of over $1.3 billion in only two weeks. BlackRock’s ETHA took center stage with an unprecedented inflow of $292.69 million, thereby elevating its aggregate influx to $2.64 billion.

Fidelity’s FETH has seen an addition of $113.61 million, with Grayscale Ethereum Mini Trust and Bitwise’s ETHW contributing $30.69 million and $6.58 million, respectively. In contrast, Grayscale’s ETHE was faced with outflows totalling $15.12 million.

This influx emerges parallel to Ether’s (ETH) price surge, which ascended to an eight-month zenith of $3,946 on December 5, amounting to a 14.5% increment in the past two weeks. Currently, Ether stands at a trading price of approximately $3,880.