Since the beginning of the year, the largest scale, physical Bitcoin ETF weekly volume is 3.6 trillion yen.

## physical Bitcoin ETF market conditions

The trading volume of the physical Bitcoin ETF in the United States last week (from the 19th to the 23rd) was $25 billion (approximately 3.6 trillion yen).

This week, the price of Bitcoin has surpassed $110,000, setting a new all-time high, and the weekly trading volume is the largest since the beginning of the year. Specifically, the week up to December 20, 2024, has exceeded $26 billion, making it the largest since then.

In addition, last week's fund flow saw a net inflow of $2.75 billion (approximately ¥392 billion). This is the third largest scale since the ETF launch in January 2024.

Source: SoSoValue

Looking at individual products, the strength of "IBIT" offered by the largest asset management firm BlackRock stands out. IBIT currently holds the most Bitcoin among ETFs.

Source: Coinglass

On this point, Eric Balchunas, a senior ETF analyst at Bloomberg, posted on the 20th about BlackRock's Bitcoin holdings rising to the second largest in the world, behind Bitcoin creator Satoshi Nakamoto.

Currently, concerns remain in the financial markets due to the economic slowdown caused by the tariff measures of the Trump administration, the monetary policy of the Federal Reserve (FRB), and geopolitical issues. However, many believe that the high demand for physical Bitcoin ETFs and corporate purchases is a significant factor contributing to the rise in Bitcoin prices.

Ethereum Spot ETF market conditions

Additionally, the trading volume for the Ethereum (ETH) Spot ETF last week was $2.52 billion (approximately ¥359.5 billion). The fund flow had a net inflow of about $250 million (approximately ¥35.4 billion).

The trading volume is the third largest since the beginning of the year, and the net inflow is the second largest since the beginning of the year.

Source: SoSoValue