Bitcoin ETFs record fifth straight day of inflows

US spot Bitcoin exchange-traded funds saw a fifth consecutive day of inflows as Bitcoin surged to an all-time high, surpassing $100,000 on December 4.

U.S. spot Bitcoin ETFs recorded inflows for a fifth consecutive day on Wednesday, bringing total net inflows in the series to over $2 billion, according to SoSoValue data. On that day alone, 12 spot Bitcoin ETFs collectively raised $556.82 million.

BlackRock’s IBIT ETF led the way on Dec. 4, drawing inflows of $571.71 million, maintaining its dominance for the fourth day in a row.

This was followed by Grayscale’s Bitcoin Mini Trust with $55.71 million, Fidelity’s FBTC with $17.27 million, and Bitwise’s BITB ETF with $6.44 million.

But the upward trend was not universal. Grayscale’s flagship GBTC ETF was an outlier, recording an outflow of $94.31 million on the same day. There has been a total net outflow of 20.64 billion dollars from the fund since its establishment.

This momentum was also reflected in trading activities; Total ETF trading volume rose to $4.71 billion on December 4, a significant jump from the $2.93 billion recorded the previous day.

Bitcoin, the world’s largest cryptocurrency, broke the elusive $100,000 barrier for the first time, reaching an all-time high of $103,679 on December 5. The rise was buoyed by President-elect Trump’s signals of support for the industry.

At the time of writing, Bitcoin (BTC) was trading at $103,192, up 7% on the day.

Since Trump’s election victory on November 5, Bitcoin’s price has risen nearly 45%, driven by a wave of buying interest that has poured capital into US Bitcoin-backed ETFs.

According to a report by crypto.news, Trump has raised expectations that his administration will promote a crypto-friendly regulatory environment. On December 4, he nominated Paul Atkins, a well-known crypto advocate, as the next chairman of the U.S. Securities and Exchange Commission.