United States-based spot Bitcoin ETFs witnessed a significant turnaround, recording nearly $1.9 billion in total net inflows on January 3 and January 6, effectively countering a previous trend of outflows seen in late December. On January 6 alone, these ETFs attracted $978.6 million from investors, with the Fidelity Wise Origin Bitcoin Fund receiving the largest share of $370.2 million. Following closely were the BlackRock iShares Bitcoin ETF and the ARK 21Shares Bitcoin ETF, which pulled in $209 million and $153 million, respectively, according to Farside Investors.
Other notable inflows on the same day included over $70 million into Bitwise Bitcoin ETF and Grayscale’s two spot Bitcoin ETFs, tickered GBTC and BTC. Meanwhile, the VanEck and Franklin Bitcoin ETFs collected $17.3 million and $8.9 million, respectively. In contrast, Invesco, Valkyrie, and WisdomTree’s spot Bitcoin ETFs did not record any inflows.
This recent influx has nearly offset the $1.9 billion net outflow experienced between December 19 and January 2. Since their launch, spot Bitcoin ETFs have now amassed $36.9 billion in net inflows over about a year. BlackRock’s iShares Bitcoin ETF leads with $37.4 billion in net inflows, while Fidelity Wise Origin Bitcoin Fund follows with $12.4 billion. Conversely, Grayscale’s converted GBTC ETF has seen $21.4 billion in outflows.
Increasing interest from retail investors has been identified, with a Binance report indicating that nearly 80% of the demand for spot Bitcoin ETFs comes from this demographic. Looking ahead, industry insiders, including Bitwise’s chief investment officer Matt Hougan, predict heightened institutional involvement by 2025, driven by new clearinghouses for Bitcoin ETF trading. This anticipated shift is part of the rationale behind Bitwise’s optimistic projection of Bitcoin reaching $200,000 in price by 2025, and VanEck’s forecast of $180,000.
