tl;dr
Bitcoin exchange-traded funds (ETFs) have attracted over $1 billion in inflows during the early days of December, with major asset managers like BlackRock and Fidelity contributing significantly to this surge. This influx coincides with Bitcoin's recent price rally, currently sitting around $97,000 ...
Bitcoin exchange-traded funds (ETFs) have attracted over $1 billion in inflows during the early days of December, with major asset managers like BlackRock and Fidelity contributing significantly to this surge. This influx coincides with Bitcoin's recent price rally, currently sitting around $97,000 and threatening the $100,000 mark. Total assets under management for Bitcoin ETFs have reached approximately $31.7 billion.
Ripple and Cardano lead altcoin surge, doubling the market cap to $1.55 trillion, while Bitcoin's price falls to $61,000 on South Korean exchanges following a martial law declaration. Meanwhile, MicroStrategy's Bitcoin holdings have surpassed 400,000 BTC after a $1.5 billion purchase.
Bitcoin ETFs have attracted more than $1 billion in inflows during the early days of December according to Farside data. BlackRock led with $338.3 million in inflows on Dec. 2, followed by Fidelity with $25.1 million. The following day, BlackRock’s ETF recorded $693.3 million in inflows, while Fidelity added $52.2 million. Despite Bitwise experiencing outflows of $93.5 million, total inflows amounted to $676 million. Cumulatively, Bitcoin ETFs have amassed $1.03 billion in inflows for December so far, bringing total assets under management to approximately $31.7 billion.
As Bitcoin's price rallies, the market cap for altcoins, particularly Ripple and Cardano, has nearly doubled to $1.55 trillion, making significant strides in the cryptocurrency market. Conversely, Bitcoin's price fell to $61,000 on South Korean exchanges after a declaration of martial law by the President.
MicroStrategy's Bitcoin holdings have reached over 400,000 BTC following a $1.5 billion purchase, reaffirming the company's commitment to cryptocurrency as a primary asset.
Overall, Bitcoin's ETF inflows, altcoin market surge, and institutional investments in Bitcoin reflect the evolving landscape of cryptocurrency investments, presenting new opportunities and challenges for investors and market participants.