Bitcoin ETFs Stock $527.9 Million in BTC: December 16 Review

• Spot Bitcoin ETFs saw another profitable day on December 16 with nearly all exchange-traded funds registering inflows totaling almost 700 billion dollars.
• Blackrock (IBIT) was the best-performing ETF on this date, adding $527.9 million in BTC, more than the combined total of the last six days.
• Despite Grayscale (GBTC) seeing outflows, Bitcoin surged past $104,000, driven by inflows in other Bitcoin ETFs.

Spot Bitcoin ETFs saw another profitable day on December 16. On this date, nearly all exchange-traded funds registered inflows, amounting to almost 700 billion dollars in total.

Fund manager Blackrock (IBIT) was by far the best-performing ETF of that date. In a 24-hour span, IBIT added $527.9 million in BTC to its fund, an amount higher than the combined total of the last six days.

Blackrock (IBIT) and Ark (ARKB) made msot of the leg work for Bitcoin ETFs on Jauary 16th. While most exchange-traded funds only managed to pull about $8 million in inflows, IBIT and ARKB combined registered over $683 million. 

Grayscale The Only ETF Seeing Outflows

Interestingly, the largest Bitcoin fund manager Grayscale (GBTC) was the only ETF to register withdrawals on January 16. 

On this date, GBTC registered $70 million in BTC withdrawals, marking one of the worst-performing periods in the history of the Bitcoin fund. The Grayscale Bitcoin ETF registered outflows on four out of the last seven days, with only $63 million inflows in that same period. 

Bitcoin Surges Past $104,000

Despite Grayscale’s outflows, the inflows seen on the majority of Bitcoin ETFs may have helped push the price of the asset toward its all-time high zone.

Bitcoin is currently trading at $104,442 according to CoinMarketCap, boasting an impressive 4.78% increase over the last 24 hours. In fact, the entire market is booming this week, in anticipation of Donald Trump’s inauguration on January 20th. Altcoins like Solana, XRP, Cardano, Ethereum, and Dogecoin are also up.

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