CandleFocus

Bitcoin ETF trading volume spikes 50% amid BTC drop below 100k

Author: Content Editor
On December 5th, spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw a surge in trading volume, reaching $7.1 billion, which was a 50% increase from the previous day. Data showed that the 12 spot Bitcoin ETFs also experienced net inflows of $766.66 million on that day, extending their streak of inflows to a total of over $2.7 billion over six days. BlackRock's IBIT led the pack with inflows of $770.51 million, while Grayscale Bitcoin Mini Trust and Fidelity's FBTC also saw significant inflows. However, some ETFs, including Grayscale's GBTC and Bitwise's BITB, experienced outflows. The increase in trading volume coincided with a drop in Bitcoin's price, falling over 10% that day. On the other hand, U.S.-listed spot Ether ETFs experienced an inflow of $428.44 million on December 5th, setting a record for the largest single-day inflow since their launch. There have been nine consecutive days of net positive inflows for Ether ETFs, totaling over $1.3 billion in the past two weeks. BlackRock's ETHA dominated the inflows, and the wave of inflows coincided with Ether's price rally, reaching an eight-month high of $3,946. At the time of the report, Ether was trading at $3,880.

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