Bitcoin ETFs acquired nearly three times the amount of BTC produced in December

US spot Bitcoin ETFs (exchange-traded funds) purchased almost three times more BTC than the amount that was produced by miners in December. Aggregated data from Apollo and BiTBO shows that spot BTC ETFs in the US accumulated 51,500 Bitcoins collectively.

Bitcoin ETFs have a stellar December

December proved to be a golden time for Bitcoin ETFs with inflows supported by strong market momentum. The influx of capital into these investment products gave the largest crypto by market cap the support needed to rise above the psychological $100K mark to a new all-time high of $108,135 on December 17, according to data from CoinGecko.

Simultaneously, Bitcoin miners introduced 13,850 new coins to BTC’s supply in December. Overall, the accumulation by spot Bitcoin ETFs was approximately 272% more than the number of new coins that were produced last month.

Crypto researcher Vivek also noted in a January 6 X post that BTC exchange balances have plunged to historic lows, creating a supply bottleneck. With exchanges running low on liquidity, Vivek warned of a potential impending “supply shock.”  

#Bitcoin balance on exchanges hits an all time low.

Supply shock incoming 🚀 pic.twitter.com/BkEmFfWeE7

— Vivek⚡️ (@Vivek4real_) January 6, 2025

Major inflows in January

Data from Farside Investors shows that US Spot Bitcoin ETFs posted their second consecutive day of net inflows yesterday, with around $978.6 million entering the funds’ reserves collectively on January 6. Yesterday’s positive flows also marked the second consecutive weekday of more than $900 million in inflows. 

BlackRock’s IBIT, which is the current leader in cumulative inflows, saw $253.1 million and $209.1 million enter its reserves on Jan. 3 and Jan. 6, respectively. However, Fidelity’s FBTC was the top-performer. On Jan. 3, investors poured $357 million into FBTC, while $370.2 million entered the fund yesterday.

Bitwise’s BITB also recorded positive net flows on both days. Similarly, ARKB recorded $16.5 million and $222.6 million net inflows on Jan. 2 and Jan. 6, respectively, while VanEck’s reserves increased over $10 million with the inflows it registered over both days.

After posting no new flows on Jan. 3, investors resumed investing in Grayscale’s GBTC, sending $73.8 million to the ETF yesterday. The asset manager’s smaller BTC fund saw net inflows on both days as well.

The uptick in inflows comes as BTC managed to reclaim a position above the $100,000 mark in the last 24 hours. After posting a daily gain of more than 2%, the market leader trades at $101,719.51 as of 3:05 a.m. EST.

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