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Net cash inflows to Bitcoin 
$103,700 ETFs began to trend positively again after the core Consumer Price Index (CPI) fell in December. This development led to a rally in global stock and cryptocurrency markets. On Wednesday, net cash inflows to Bitcoin ETFs surged to $755 million, with Fidelity’s FBTC product leading the way with an impressive inflow of $463 million. Following a strong rise in the S&P 500 index, Bitcoin’s price surpassed the $100,000 mark.
Renewed Investment Flow into Bitcoin ETFs
After four consecutive trading days of net outflows, Bitcoin-based ETFs recorded robust cash inflows on Wednesday. Led by Fidelity, these investment instruments gathered over 7,548 BTC from the market while daily Bitcoin production stood at 450 BTC.
Fidelity’s FBTC product topped the list with $463 million in cash inflows, while Ark Invest’s ARKB product secured the second spot with $138 million. BlackRock’s iShares Bitcoin Trust (IBIT) managed to record a $31 million inflow, alongside a trading volume of $2.35 billion. Meanwhile, Fidelity’s FBTC product reached a trading volume of $284 million. Asset managers are continuing efforts to expand their Bitcoin offerings to other global markets, with BlackRock launching a new Bitcoin ETF variant in Canada earlier this week.
Core CPI Drop Supports Market Optimism
December’s Consumer Price Index rose by 2.9%, but the core CPI, excluding food and energy prices, decreased to 3.2%. This figure, falling short of the expected 3.3%, positively influenced global stock and cryptocurrency markets on Wednesday.
“We provided information solely about Bitcoin ETFs. We are considering moving some positions from foreign currency government bonds to BTC. Bitcoin is entering a new phase.” – Hunter Horsley, CEO of Bitwise Invest
Thanks to the unexpected drop in core CPI, the S&P 500 closed the trading day with an increase of over 100 points, adding $900 billion to its market value.
The ongoing interest in Bitcoin ETFs has created a positive atmosphere in the markets, while various expectations regarding Bitcoin’s future performance have emerged among investors. Close monitoring of developments could be crucial for investment decisions.
