Brief
- Bitcoin ETFs recorded their biggest inflows since early October on Monday with $697.2 million, with more than half coming from BlackRock’s iShares Bitcoin Trust.
- Bitcoin rebounded above $94,000 on Monday after falling below $90,000 in December.
- Morgan Stanley has filed with the SEC to launch its own Bitcoin and Solana ETFs, joining the growing competition in the crypto fund space.
Bitcoin ETFs in the United States marked their best day of inflows since early October on Monday, with funds taking in $697.2 million.
BlackRock’s iShares Bitcoin Trust was already on a roll, generating $287.4 in inflows on Friday, already a three-month high. But yesterday, the fund outdid itself by accounting for more than half of the total daily inflows, or $372.5 million.
The Fidelity Wise Origin Bitcoin Fund was the second most popular with investors on Monday, with $191.2 worth of shares created yesterday, according to a Bitcoin ETF tracker maintained by London-based investment management firm Farside Investors.
Meanwhile, Bitcoin fell slightly to $92,080 at the time of writing, showing a 2.3% decline from the same time on Monday, according to crypto price aggregator CoinGecko. But it remains 4.4% higher than this time last week.
Users of Myriad, a prediction market platform owned by Decrypt Parent company Dastan estimates that there is a 74% chance that Bitcoin will close the gap to $100,000 before it can fall back to $69,000. This percentage has increased significantly since users were almost evenly distributed in mid-December.
Bitcoin fell below $90,000 in December, dashing hopes that investors would see a Santa Claus rally this Christmas. But it began to rebound in the new year, surpassing $94,000 on Monday. And as inflows have flowed into Bitcoin ETFs, the funds now hold $122.86 billion worth of BTC, according to crypto analytics platform CoinGlass.
Earlier on Monday, Wall Street titan Morgan Stanley signaled its aim to give existing Bitcoin and Solana ETFs a run for their money. The bank filed S-1 registration forms with the SEC to launch the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust.
The initial filing outlines the funds’ fee structures, but does not list them and leaves out custodians and crypto entry and exit partners. A bank spokesperson said Decrypt in an email stating that the company cannot yet provide details on whether the bank will work with crypto-native or bank-affiliated custodians.
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