In short
- Bitcoin ETFs on Monday recorded their strongest inflows since early October with $697.2 million, more than half of which came from BlackRock’s iShares Bitcoin Trust.
- Bitcoin recovered 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 US on Monday marked their best inflows since early October as the funds raked in $697.2 million.
BlackRock’s iShares Bitcoin Trust was already on a roll, generating inflows worth $287.4 on Friday – already a three-month peak. But yesterday the fund outdid itself by accounting for more than half of the total daily inflows, adding $372.5 million.
The Fidelity Wise Origin Bitcoin Fund was the second most popular among 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 is down slightly at the time of writing at $92,080, showing a decline of 2.3% compared to the same time Monday, according to crypto price aggregator CoinGecko. But it’s still 4.4% higher than this time last week.
Users of Myriad, a prediction market platform owned by Declutter 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. That percentage has increased significantly since users were almost evenly split in mid-December.
Bitcoin fell below $90,000 in December, dashing investors’ hopes that investors would see a Santa Claus rally before Christmas. But the recovery has begun in the new year, climbing above $94,000 on Monday. And with inflows into Bitcoin ETFs, the funds now hold $122.86 billion worth of BTC, according to crypto analytics platform CoinGlass.
Earlier Monday, Wall Street titan Morgan Stanley indicated it plans to give the 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 describes but does not mention the funds’ fee structures, and leaves out custodians and crypto on- and off-ramp partners. A spokesperson for the bank said this Declutter in an email that the company cannot yet provide details on whether the bank will work with crypto-native or bank-affiliated custodians.
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