December 3 marked a historic day for Bitcoin ETFs in the United States as daily inflows soared to $675.97 million.
On December 3, Bitcoin spot exchange-traded funds (ETFs) in the United States achieved another milestone, with inflows reaching an impressive $675.97 million in a single day. This marks a 90% increase from the previous day’s $353.67 million and highlights the accelerating institutional demand for Bitcoin BTC $109 802 24h volatility: 2.8% Market cap: $2.19 T Vol. 24h: $39.67 B exposure.
According to data from blockchain ETF tracker SoSoValue, the latest surge brings the total four-day net inflows to over $1.45 billion, placing these ETFs closer than ever to surpassing the legendary Bitcoin (BTC) holdings of Satoshi Nakamoto, the mysterious creator of the leading crypto asset.
A Closer Look at the Numbers
BlackRock’s iShares Bitcoin Trust (IBIT) continues to dominate the US Bitcoin ETF market. On Tuesday, the fund recorded $693.25 million in inflows, pushing its holdings beyond 500,000 BTC.
Data from SoSoValue shows that the figure represents approximately 2.38% of Bitcoin’s total circulating supply, a significant feat achieved within a year of its launch. IBIT now boasts nearly $50 billion in assets under management, making it one of the most successful ETF launches of 2024.
Fidelity’s Wise Origin Bitcoin Trust (FBTC) also saw steady inflows, accumulating $52.17 million. Like IBIT, the fund has rapidly grown, commanding a cumulative net inflow of $11.53 billion.
Other notable players include VanEck’s HODL and Bitwise’s BITB, which attracted $16.21 million and $7.8 million, respectively. However, ARK and 21Shares’ ARKB bucked the trend with outflows totaling $93.47 million.
Bitcoin ETFs Nearing a Symbolic Milestone
The combined holdings of US spot Bitcoin ETFs now total 1.083 million BTC, just 13,000 BTC shy of Satoshi Nakamoto’s estimated holdings of 1.096 million BTC.
These ETFs are set to become the largest single holders of Bitcoin, needing an additional $1.23 billion at current market prices to claim the title.
US Spot Listed ETFs just 13k #Bitcoin away from Satoshi holdings.
1.096M Satoshi
1.083M U.S. ETFsThey are gonna flip it in under a year.
Global ETPs hold 1.2M BTC@NateGeraci pic.twitter.com/X6WXEbL7Lo
— James Van Straten (@btcjvs) December 3, 2024
This year has already witnessed ETFs surpassing corporate giants like MicroStrategy in Bitcoin holdings, further underscoring their influence in the crypto market.
Meanwhile, despite the record-breaking inflows, Bitcoin’s price remained relatively flat, trading at $96,547 — a modest 1.1% increase in the past 24 hours. The market’s cautious stance indicates that investors are awaiting more decisive factors to drive the crypto past the $100,000 mark.
ETF trading volumes also dropped, with total activity declining to $2.93 billion from $3.91 billion the day prior. While inflows remain robust, the broader market appears to be in a consolidation phase.
Expanding Institutional Interest in Crypto Funds
Institutional interest in crypto investment products extends beyond Bitcoin ETFs, with significant inflows into other digital asset funds. According to SoSoValue, Ethereum spot ETFs attracted $132.65 million in daily inflows. As of December 3, cumulative net inflows for these funds have reached an impressive $730.21 million.
Leading the charge were BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity’s Ethereum Fund (FETH) making substantial contributions. ETHA saw inflows of approximately $65.29 million, while FETH recorded an even higher $73.22 million. These figures highlight the growing appeal of Ethereum investment vehicles alongside Bitcoin ETFs, further demonstrating the expanding footprint of institutional crypto adoption.
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