Net Inflows to Spot Bitcoin ETFs Surpass 500,000 BTC

Since their launch in January, net inflows into U.S. exchange-traded funds based on the spot price of Bitcoin have exceeded 500,000 BTC.

Year-to-date flows to spot ETFs have surpassed 500,000 BTC!

U.S. ETFs have absorbed more than 2.5% of the circulating supply since their launch in January. pic.twitter.com/y5yNz7ksG1

— Vetle Lunde (@VetleLunde) December 12, 2024

This volume accounts for about 2.5% of the market supply of the leading cryptocurrency, noted Vetle Lunde, Head of Research at K33 Research.

Since November 27, there has been a continuous inflow of investments into the funds.

The figure of $223 million on December 11 was not a record for recent days, but it did help surpass the significant milestone of 0.5 million BTC. The leader for the day was Fidelity’s FBTC, with inflows of $121.9 million.

GBTC, converted by Grayscale from a Bitcoin trust into an ETF, continues to lose assets under management. Since the conversion in January, the structure has experienced an outflow of $20.9 billion. The amount of cryptocurrency on its balance sheet has decreased to approximately 211,440 BTC.

By early December, the assets of spot Bitcoin ETFs had surpassed the amount attributed to the creator of digital gold, Satoshi Nakamoto, which is 1 million BTC.

The leading figure in the segment, BlackRock’s IBIT, alone exceeded 500,000 BTC.

CryptoQuant founder and CEO Ki Young Ju noted that the company’s Bitcoin ETF has surpassed its gold-based fund in volume.

BlackRock #Bitcoin ETF has now overtaken its gold ETF in AUM, with billions flowing into the Bitcoin market every week.

Smart money already knows the winner. In a market blending dumb money, gold’s market cap is $17T, Bitcoin’s $2T.

Be on the right side of history. pic.twitter.com/JaBzQM91p4

— Ki Young Ju (@ki_young_ju) December 12, 2024

“Smart money already knows the winner. In a market blending dumb money, gold’s market cap is $17 trillion, Bitcoin’s $2 trillion. Be on the right side of history,” the expert noted.

Spot price-based Ethereum ETFs have maintained a daily net inflow since November 22.

Some experts consider this one of the signs that the second-largest cryptocurrency by market capitalization could reach new price highs soon.

According to the Derive options exchange, the probability of Ethereum reaching its ATH by the end of the year does not exceed 10%.