Spot Bitcoin ETF Maintains 10-Day Inflow Streak As Market Eyes Rebound

United States spot Bitcoin Exchange Traded Funds (ETFs), launched eleven months ago, have recorded significant inflows these past few days.

According to data from Farside Investors, these products have maintained a 10-day inflow streak.

This suggests that the offerings are in sync with the broader crypto market, which is currently experiencing a rebound.

Spot Bitcoin ETF Performance Outlook

On Tuesday, December 10, BlackRock’s iShares Bitcoin Trust ETF (IBIT) bagged up to $295.6 million in inflows. This makes it extend its role as the spot Bitcoin ETF with the largest value.

Fidelity’s FBTC followed it with $210.5 million in inflows. SoSoValue noted that all US spot Bitcoin ETFs’ inflows amounted to $439.56 million.

Meanwhile Bitwise’s BITB, Franklin Templeton’s EZBC, Valkyrie’s BRR, and WisdomTree’s BTCW saw no flows. On the other hand, Grayscale led the outflows with $62.8 million.

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It is worth acknowledging that BlackRock and Fidelity have maintained the lead in inflows for the last few months.

K33 Head of Research Vetle Lunde once tagged IBIT as the third strongest ETF instrument in the United States. Similarly, BlackRock reportedly surpassed many of its counterparts in its total BTC value.

With more than 500,000 Bitcoin in Assets Under Management (AUM) holding, BlackRock remains the primary leader in the Bitcoin ETF ecosystem.

Bitcoin Price Eyes Rebound, Where to Next?

These spot Bitcoin ETFs maintained this 10-day inflow streak amidst a massive market rebound for the underlying cryptocurrency.

Since the beginning of November, which coincides with the US 2024 presidential elections, the top coin has had massive price appreciation.

From trading between $57,000 and $60,000, Bitcoin defied key barriers to hit a new All-time-high (ATH) of over $103,000.

The coin has seen some market fluctuations in the last few days, eventually losing some of its gains.

At the tome of writing, BTC price traded at $98,049.11 after gaining 0.23% in the last 24 hours. Similarly, the coin has recorded a 19.29% increase in the last 30 days and is up by 131.33% year-to-date (YTD).

With many crypto enthusiasts wondering how high Bitcoin could go, some analysts predict it would double its $100,000 price level in no time.

On the contrary, renowned cryptocurrency analyst Rekt Capital warns of potential turbulence ahead, which could determine its short-term trajectory.

Impact of Donald Trump On BTC Trajectory

Donald Trump’s victory in the US 2024 presidential elections is instrumental to the surge that Bitcoin has experienced in these past weeks.

Even the broader crypto market has seen its market capitalization jump and gradually near its levels before the harsh crypto winter from 2022. This crash at the time was fueled by the crash of Terraform Labs.

Trump’s crypto agenda and the promise of a more conducive regulatory atmosphere have spurred prices to skyrocket.

As part of his plan to change the crypto regulatory landscape, the president-elect has named Paul Atkins as the next Chairman of the US Securities and Exchange Commission (SEC).

Paul Atkins will replace Gary Gensler, often criticized for his anti-crypto campaigns. With the incoming Trump administration, expectations for changes are expected.