The renewed interest witnessed across the broad crypto market in recent days has also expanded into the Bitcoin ETF ecosystem as they have continued to record increasing daily inflows.
On Tuesday, Dec. 10, U.S. Bitcoin ETFs posted one of its strongest inflows in the past month, pulling in a massive $223.5 million in just one day, according to data showcased by Farside Investors.
Bitcoin ETFs sees highest inflow in three weeks
While many of the Bitcoin funds had experienced sharp outflows earlier in the month, with the broad Bitcoin ETF market seeing poor daily performances, this strong inflow signals renewed optimism among institutional investors.
This surge has sparked a wave of excitement across the crypto market as it marks a significant transition from the volatility seen in past weeks, causing Bitcoin to note heavy red days even in its ETF flows. Earlier this month, on Dec. 4, nearly $195 million in combined outflows was recorded, followed by a series of little-to-no inflows.
Following this strong single-day performance, the overall spot Bitcoin ETFs have just recorded the highest daily inflow in the past three weeks.
BlackRock and Fidelity in spotlight
As usual, BlackRock (IBIT) has maintained its dominance in the Bitcoin ETF space, standing out with a massive $192.9 million in inflow, while Fidelity (FBTC) followed closely with $30.6 million.
However, the trading session came with a surprising twist, as only BlackRock and Fidelity had pulled in a total inflow of $223 million for that day.
Notably, the rest of the ETF lineup remained mostly flat as none of them pulled in any capital for the day. Nonetheless, the strong performance from the two biggest issuers was enough to push the day’s total inflow to its highest level since late November.
Despite the series of sell-offs witnessed from BlackRock, the fund had continued to attract fresh capital and has continued to maintain its dominance on the market regardless of broader ETF performance.
Nonetheless, the massive inflow of Dec. 10 has coincided with the rapid price resurgence witnessed across the broad crypto market.
This positive trend has seen Bitcoin show massive daily gains, maintaining a close above the crucial $90,000 level, as analysts predict it could be on track to reclaim $100,000 soon.