While the spot Bitcoin ETFs smashed industry expectations in 2024, the products finished poorly with outflows in six of the last eight trading days.
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.
