Institutional confidence in cryptocurrencies grows as Bitcoin reaches record gains and consistent ETF inflows.
According to data from SoSoValue, Bitcoin (BTC) spot ETFs recorded net inflows of $637 million on December 16, marking the 13th consecutive day of positive inflows. This trend highlights increasing investor confidence in the cryptocurrency sector as Bitcoin continues to hit new all-time highs.
BlackRock Leads with the Largest Single-Day Inflow
BlackRock's ETF (IBIT) led the market with the largest single-day inflow of $418 million, bringing its total net inflows to $36.3 billion. In second place was Fidelity's ETF (FBTC), which saw inflows of $116 million, raising its total net inflows to $12.4 billion.
Grayscale's ETF (GBTC) continued its upward trend with net inflows of $17.65 million. Other notable contributors include Bitwise's BITB and ARK Invest's ARKB, demonstrating strong institutional engagement across multiple funds.
Bitcoin Price Hits a New All-Time High
On December 16, Bitcoin reached a new record, approaching $107,000. This significant milestone was driven by several factors, including the positive sentiment in the crypto community and the intentions of newly elected President Donald Trump to establish a strategic Bitcoin reserve in the United States. This move bolstered market confidence and contributed to further price growth.
Bitcoin Spot ETFs Account for 5.76% of BTC Market Capitalization
The total net asset value of Bitcoin spot ETFs reached $120.7 billion, representing 5.76% of Bitcoin's market capitalization.
Predictions Suggest Bitcoin Could Surge to $250,000
Experts predict that a combination of consistent ETF inflows and favorable legislative changes could drive Bitcoin's price to $250,000. This trend underscores sustained institutional interest and optimistic outlooks for the cryptocurrency market.
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