But institutional confidence in Bitcoin continues to soar ETF inflows soar to record numbers, and the Bitcoin price hits a fresh all-time high.SoSoValue data showed that Bitcoin spot ETFs saw a massive $637 million net inflow on Dec 16, the 13th consecutive day of inflows. This comes as Bitcoin hit a new all-time high of almost $107,000, as confidence grows in the cryptocurrency sector.
ETF Inflow Boom: BlackRock Leads
Of the Bitcoin spot ETFs, BlackRock’s IBIT was the frontrunner due to the $418 million single-day inflow. This brought its total net inflow to $36.3 billion, continuing in dominance.
Fidelity’s FBTC recorded an inflow of $116 million, bringing its overall net inflow to $12.4 billion. GBTC from Grayscale still saw a net inflow of $17.65 million. While Bitwise’s BITB and Ark’s ARKB led the pack in terms of volume but shows that significantly more funds are participating across the institutions.
Bitcoin’s Price Hits $107,000
Institutional inflows and favorable market developments helped drive Bitcoin’s record-breaking price of nearly $107,000 the same day. President-elect Donald Trump’s pro-crypto stance such as creating a strategic Bitcoin reserve for the United States also helped to bolster market sentiment.
These developments have boosted market optimism to all-new highs, and Bitcoin analysts are now predicting that $250,000 will be the top price for the coin in the coming months.
Bitcoin spot ETFs now hold $120.7 billion of total net asset value, accounting for a total of 5.76% of Bitcoin’s market capitalization. In fact, this growing share reflects the major role institutional investments are playing in Bitcoin’s market dynamics.
Industry experts think that favorable regulatory changes and consistent ETF inflows will take Bitcoin’s value to a new horizon.
Bitcoin’s position as a traditional investment asset appears to be even better, with institutional interest still increasing. This means that this is the beginning of a new period in the currency market, with greater confidence and adoption.
