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Bitcoin Hits $100K Amid $596M ETF Inflows; BlackRock's ETF AUM Reaches $50B

Dec 13, 2024, 08:47 AM

Bitcoin's price surpassed the $100,000 mark as institutional interest surged, led by significant inflows into Bitcoin exchange-traded funds (ETFs). On December 12, Bitcoin ETFs saw net inflows of $596.6 million, with BlackRock's iShares Bitcoin ETF contributing a substantial $432 million, reaching $50 billion in assets under management in record time. Bitcoin ETFs have experienced net inflows for 11 consecutive days since November 26, bringing the total net asset value of Bitcoin spot ETFs to $112.546 billion. Over the last two weeks, ETFs have purchased more than 35,000 bitcoins, while MicroStrategy acquired 21,550 bitcoins. The consistent inflows have led to a decrease in Bitcoin supply on exchanges, with only 450 new bitcoins mined daily. The Bitcoin Fear and Greed Index reached 76, indicating extreme greed in the market.