Fidelity's FBTC dominated the flow with $391 million while BlackRock's IBIT contributed $111 million
Bitcoin News
U.S. spot Bitcoin exchange-traded funds recorded $457 million in net inflows Wednesday, marking the strongest single-day intake since mid-November. Fidelity's FBTC dominated the flow with $391 million while BlackRock's IBIT contributed $111 million, according to Farside Investors data.
The surge pushed cumulative net inflows beyond $57 billion and lifted total net assets above $112 billion, representing approximately 6.5% of Bitcoin's market capitalization. Several funds experienced modest outflows, with ARK 21Shares' ARKB shedding $37 million and Bitwise's BITB recording $8.4 million in redemptions.
Vincent Liu, chief investment officer at Kronos Research, characterized the activity as early positioning rather than late-cycle enthusiasm. Rate expectation shifts have repositioned Bitcoin as a clean liquidity trade, while political sentiment provides a backdrop rather than a primary catalyst, Liu explained.
The last comparable inflow occurred on Nov. 11 when funds attracted $524 million in a single session. Wednesday's intake follows a volatile November and early December period, during which the ETF category alternated between modest gains and sharp outflows.
President Donald Trump announced plans to appoint a Federal Reserve chair favoring aggressive rate cuts during a national address Wednesday. Trump stated he will reveal current Fed Chair Jerome Powell's successor early next year, with all candidates supporting lower rates than the present levels. Reduced rates typically benefit risk assets, including crypto.
Liu cautioned that momentum may persist but warned against expecting smooth progression. Flows will track liquidity conditions and price movements as long as Bitcoin functions as a macro expression, with ETFs remaining the path of least resistance for institutional capital.
Glassnode data shows that approximately 6.7 million Bitcoin currently trades below acquisition cost, the cycle's highest loss-bearing supply level. Demand remains fragile across spot and derivatives markets with selective buying, episodic corporate treasury activity, and continued futures position reduction.
Dense overhead supply between $93,000 and $120,000 caps recovery attempts while structural support holds near $81,000. Bitcoin requires either absorption of sellers above $95,000 or fresh liquidity injection to escape the current range, according to Glassnode's assessment.
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