TL;DR
- Bitcoin recovered the $93,000 level, boosted by five consecutive days of net inflows into spot BTC ETFs.
- Solana (SOL) and XRP recorded gains of 12% and nearly 10%, respectively, thanks to strong inflows into their own ETFs.
- Vanguard, with $11 trillion in assets, opened its platform to cryptocurrency ETFs and mutual funds, a move seen as a “HUGE” shift for the passive market.
The trend in the cryptocurrency market has shifted, now becoming bullish, and the momentum came from a massive institutional flow into digital asset exchange-traded funds (ETFs). On this day, the pioneering crypto surpassed $93,000, while altcoins like XRP and Solana took off with double-digit gains in an expected rally fostered by growing demand from Wall Street.
Bitcoin’s strength was built on the inflow figures: spot BTC ETFs registered a net positive flow for the fifth consecutive day, totaling $58.49 million on December 2 alone. BlackRock’s iShares Bitcoin Trust (IBIT) stood out, adding $120 million in 24 hours.
The trend led IBIT to surpass the volume of Vanguard’s flagship S&P 500 ETF, signaling a coordinated move by Wall Street. Over a 216-hour period, giants like JPMorgan, Goldman Sachs, Bank of America, and Vanguard, which control more than $20 trillion, executed significant movements toward BTC adoption.
Vanguard’s Entry into Crypto ETFs Opens the Doors to Millions of Clients
The news of Vanguard’s Entry into Crypto ETFs was undoubtedly the catalyst for this institutional optimism. The news was revealed through a Bloomberg report confirming that Vanguard, the asset management giant with $11 trillion under administration, began allowing the trading of cryptocurrency ETFs and mutual funds on its platform. This crucial decision opens the door to 50 million clients who previously lacked direct access to these assets.
Vanguard justified the measure by pointing to the stability and liquidity that crypto funds have shown through volatile cycles. Analyst Fred Krueger called the decision “HUGE,” considering that Vanguard dominates retirement accounts, index mutual funds, and long-term passive portfolios. Vanguard’s Entry into Crypto ETFs could redefine how passive capital interacts with the digital asset ecosystem.
Meanwhile, Solana and XRP leveraged the propulsion. SOL recorded a massive 12% gain in 24 hours, boosted by $45.77 million in inflows into its spot Solana ETFs, led by Bitwise’s BSOL. For its part, XRP traded near $2.19, with an increase close to 10% in the last day, benefiting from a total net flow of $67.74 million into its ETFs, led by Grayscale’s GXRP.
