[ad_1]
U.S. spot Bitcoin exchange-traded funds saw their fifth consecutive day of inflows on Dec. 4 as Bitcoin surged past $100,000 to a new all-time high, driven by optimism over a favorable regulatory outlook under President-elect Donald Trump.
According to data from SoSoValue, U.S. spot Bitcoin ETFs recorded their fifth consecutive day of inflows on Wednesday, bringing the total net inflows over the streak to over $2 billion. On that day alone, 12 spot Bitcoin ETFs collectively garnered $556.82 million in investments.
BlackRock’s IBIT ETF emerged as the frontrunner, attracting $571.71 million in inflows on Dec. 4, marking its fourth consecutive day of dominance.
Following behind were Grayscale’s Bitcoin Mini Trust with $55.71 million, Fidelity’s FBTC with $17.27 million, and Bitwise’s BITB ETF, which drew $6.44 million in investor capital.
However, the bullish trend was not universal. Grayscale’s flagship GBTC ETF stood as the outlier, recording $94.31 million in outflows on the same day. Since its inception, the fund has experienced total net outflows of $20.64 billion.
You might also like: Powell says Bitcoin is a competitor for gold, not a dollar
The momentum extended to trading activity, with total ETF trading volumes surging to $4.71 billion on Dec. 4, a significant leap from the $2.93 billion recorded the previous day.
Bitcoin, the world’s largest cryptocurrency, broke through the elusive $100,000 mark for the first time, reaching an all-time high of $103,679 on Dec. 5. The rally was buoyed by signals of support for the sector from President-elect Trump.
At press time, Bitcoin (BTC) was trading at $103,192 per coin, up 7% on the day.
Since Trump’s election victory on Nov. 5, Bitcoin’s price has surged by approximately 45%, driven by a wave of buying interest pouring capital into U.S. Bitcoin-backed ETFs.
Trump has spurred expectations that his administration will foster a crypto-friendly regulatory environment, according to a report by crypto.news. On Dec. 4, he nominated Paul Atkins, a known crypto advocate, as the next chief of the U.S. Securities and Exchange Commission.
Read more: Bitcoin rebound and head to $100,000 target price again
[ad_2]
