BTC & ETH ETFs Attract $870M in a Single Day!

Spot Bitcoin and Ethereum ETFs collectively amassed $870M in daily inflows on Dec.12.

Author

Danielle du Toit
December 13, 2024

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  • Bitcoin and Ether ETFs Combined See $870M Daily Inflows Amid Investor Confidence

  • Grayscales Adds Lido and Optimism Trusts to Its Crypto Investment Portfolio

  • a16z’s Brian Quintenz Trump’s Top Contender for CFTC Chair

  • Binance Inflows Hit $24 Billion from 250M User Base in 2024

Spot Bitcoin and Ethereum ETFs collectively amassed close to $870m in daily inflows on Dec. 12.

  • Bitcoin ETFs led the inflows with $597.5 million, dominated by Grayscale’s GBTC, Bitwise’s BITB, and Fidelity’s FBTC.

  • Spot Ether ETFs attracted $273.6 million on the same day, with BlackRock’s ETHA, Grayscale’s ETH, and Fidelity’s FETH as top performers.

  • The crypto market's value dropped by more than 2% in 24 hours despite the renewed optimism in the U.S. stock market driving Bitcoin close to $100K. The Cryptocurrency Sentiment Index did, however, return to extreme greed territory.

Grayscale Investments launched two new investment trusts offering exposure to Lido DAO and Optimism.

  • The newly launched Grayscale Lido DAO Trust and Grayscale Optimism Trust are designed to give investors direct exposure to the native tokens of the two influential Ethereum protocols.

  • Lido DAO democratizes Ethereum staking, while Optimism enhances Ethereum’s scalability.

  • These trusts target investors who are interested in protocols driving Ethereum’s adoption and improvements in DeFi, efficiency, security, and scalability.

The current head of policy at a16z is a leading contender for the CFTC chairmanship under President-elect Trump.

  • Brian Quintenz is a former CFTC commissioner, and is reportedly the top candidate for the regulator’s chairmanship under President-elect Donald Trump.

  • Quintenz is now head of policy at Andreessen Horowitz’s crypto division (a16z), and was well known for advocating for financial innovation as well as integrating digital asset derivatives during his CFTC tenure between 2017-2021.

  • Quintenz still makes it a priority to champion balanced crypto regulations that encourage growth while still addressing compliance challenges.

Crypto exchange Binance recorded over $24 billion in inflows from user deposits so far in 2024.

  • According to Binance, its inflows surpassed the combined inflows of 10 other exchanges.

  • Binance believes its success is attributed to a number of factors like regulatory successes, historic price milestones, and the launch of spot Bitcoin exchange-traded funds in major markets.

  • Data from DefiLlama shows that Bybit and OKX are the next-highest exchanges by inflows, with $8.2 billion and $5.3 billion, respectively. Data for Coinbase and Gemini was not included.

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