Important takeaways
- US Bitcoin ETFs recorded $908 million in net inflows – a rebound from the previous day’s outflow.
- Fidelity’s Bitcoin Fund led net inflows, with significant contributions from BlackRock and ARK Invest’s funds.
BlackRock’s iShares Bitcoin Trust (IBIT) earned $253 million, ending a three-day negative streak which yielded $392 million in loss. The fund’s total net inflows rebounded to $37 million, with holdings of 548,506 Bitcoin valued at $53.4 billion.
Fidelity’s Bitcoin Fund (FBTC) led Friday’s gains with $357 million in net inflows — one of its strongest daily performances since launch. FBTC has raised over $12 billion in new investments as of January 3rd.
The ARKB fund, which is managed by ARK Invest and 21Shares, recorded $222 million in net inflows. At times, Grayscale (BTC) and VanEck funds also posted gains, while other ETF providers reported no flows.
Bitcoin reclaims the $98,000 mark
Bitcoin Hit $98,900 Friday, Exceeds $98,000 For First Time Since Dec. 26, CoinGecko data shows. The digital asset is currently trading above $98,000, showing a 4% increase over the past week.
Analysts predict a bullish year for Bitcoin, driven by growing institutional and national adoption.
Galaxy Research predicts five Nasdaq 100 companies and five nations will make it adding Bitcoin to their balance sheets by 2025 to diversify their portfolio and meet their trade settlement needs. The firm also expects US spot Bitcoin ETFs to reach $250 billion in assets under management.
Jan van Eck, CEO of VanEck, recommends that investors increase their holdings in Bitcoin and gold until 2025, as these assets offer valuable protection against inflation, fiscal uncertainty and global de-dollarization trends.
Van Eck projects that Bitcoin could reach $150,000 to $170,000. This stance is supported by other financial analysts and institutions that recognize Bitcoin’s potential to hedge against financial risks.
