Spot ETFs Quietly Accumulate $500M — BTC, ETH Prices Barely Budge
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Bitcoin and Ethereum ETFs kept quietly hoovering up capital last week — yet prices barely noticed.
Between Dec. 8–12, spot ETFs for the two largest tokens pulled in roughly $500 million in net inflows, with Bitcoin products leading the charge (about $287 million) and Ethereum funds adding roughly $209 million (sources: Farside Investors, CoinMarketCap). BlackRock’s IBIT showed steady daily additions for Bitcoin, while BlackRock’s ETHA and Fidelity’s FETH were the biggest demand drivers on the ETH side.
Despite that steady buying, price action was muted. Bitcoin traded near $89.6K, slipping about 2.2% on the week with a market cap close to $1.78 trillion, while Ethereum hovered around $3,127, down roughly 0.2% and worth about $377 billion (CoinMarketCap). The market spent the week range-bound — BTC roughly between $90K and resistance around $92K–$94K, ETH between $3.1K–$3.2K — as traders remained cautious heading into December.
Why the disconnect? Two themes stand out:
- ETF flows appear to be driven more by longer-term allocation than by impulse trading, so inflows don’t immediately translate into volatile price moves.
- Macro expectations (a Fed rate cut that was widely priced in) left little fresh catalyst to ignite a rally, and BTC repeatedly ran into that $92K–$94K ceiling.
The bigger picture: spot ETFs are now a meaningful pool of capital — Bitcoin spot ETFs hold roughly $118.3 billion in net assets and Ethereum ETFs sit near $19.4 billion (SoSoValue). If inflows keep chipping away while volatility stays subdued, ownership could shift materially under the radar — and the eventual break either way might catch markets by surprise.
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