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U.S. spot bitcoin exchange-traded funds (ETFs) reported a significant increase in inflows for January, surpassing the figures from December 2024. The 12 spot bitcoin ETFs attracted approximately $5.25 billion in January, a notable rise from the $4.53 billion seen in the previous month, data from SoSoValue indicated.
BlackRock (NYSE:BLK)’s IBIT led the surge with $3.23 billion in inflows for January, with its net assets climbing to $59.39 billion by the end of the month, reflecting a substantial $7.67 billion increase. Fidelity’s FBTC, ranking second in terms of net assets among spot bitcoin ETFs, also experienced a jump with $1.28 billion in inflows. As a result, FBTC’s net assets expanded to $21.76 billion, marking an increase from $18.87 billion at the start of January.
Matt Hougan, chief investment officer at Bitwise, shared his insights over the weekend, predicting that the collective inflows into the 12 spot bitcoin ETFs could surpass $50 billion this year. Despite acknowledging the volatility in month-to-month flows, Hougan expressed confidence in reaching this milestone, stating, "It’s worth noting, there’s significant month-to-month volatility in flows. Still, I think we end the year north of $50 billion."
The cryptocurrency market, however, has faced recent challenges. Bitcoin’s value declined by 4.2% in the past 24 hours, trading at $95,500 amid a broader crypto market sell-off. Ethereum also suffered losses, dropping 16.5% to $2,591.
The initial positive sentiment in the crypto space, buoyed by President Donald Trump’s return to the White House, has shown signs of faltering. According to Min Jung, a research analyst at Presto Research, the enthusiasm has been dampened by the absence of crypto-specific commentary from President Trump since his inauguration.
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