Key Points
- U.S. Bitcoin ETFs experienced a fifth consecutive day of inflows on Dec. 4, exceeding $2 billion in total.
- Bitcoin’s price surpassed $100,000, driven by optimism over a favorable regulatory outlook under President-elect Donald Trump.
On December 4, Bitcoin exchange-traded funds (ETFs) in the United States marked their fifth straight day of inflows.
This was accompanied by a surge in Bitcoin’s price, which crossed the $100,000 threshold for the first time, fueled by positive sentiment about a favorable regulatory environment under incoming President Donald Trump.
Record Inflows and Dominant ETFs
SoSoValue’s data revealed that on that day, 12 Bitcoin ETFs collectively attracted $556.82 million in investments, pushing the total net inflows over the five-day streak to over $2 billion.
Leading the pack was BlackRock’s IBIT ETF, which drew $571.71 million in inflows, marking its fourth day of dominance.
Other prominent players included Grayscale’s Bitcoin Mini Trust with $55.71 million, Fidelity’s FBTC with $17.27 million, and Bitwise’s BITB ETF, which garnered $6.44 million.
However, not all ETFs shared in the bullish trend.
Grayscale’s GBTC ETF recorded $94.31 million in outflows on the same day, and since its inception, the fund has seen total net outflows of $20.64 billion.
Trading Activity and Bitcoin’s Milestone
The momentum was also evident in trading volumes, with total ETF trading volumes skyrocketing to $4.71 billion on Dec. 4, a significant jump from the $2.93 billion noted the previous day.
Bitcoin, the world’s largest cryptocurrency, breached the elusive $100,000 mark for the first time, reaching a peak of $103,679 on Dec. 5.
This rally was boosted by indications of support for the sector from President-elect Trump.
As of the time of reporting, Bitcoin (BTC) was trading at $103,192 per coin, up 7% on the day.
Since Trump’s election victory on Nov. 5, Bitcoin’s price has surged by approximately 45%, propelled by a wave of buying interest pouring capital into U.S. Bitcoin-backed ETFs.
Expectations are high that Trump’s administration will promote a crypto-friendly regulatory environment.
On Dec. 4, he nominated Paul Atkins, a known crypto advocate, as the next chief of the U.S. Securities and Exchange Commission.