Spot Bitcoin ETFs Draw Over $2 Billion Inflows As Ethereum ETFs Turn Green Again – Details
20 Octobre 2024 - 2:00PM
NEWSBTC
The US-based spot Bitcoin ETFs produced a magnificent performance
in the past week recording $2.1 billion in net inflows. Meanwhile,
their Ethereum counterparts have finally turned the corner
registering their third positive weekly inflows since their trading
debut in July. Related Reading: Analyst Backs Spot Bitcoin ETFs To
Surpass Gold ETFs In Cumulative Net Inflows Spot Bitcoin ETFs
Record Highest Daily Inflow Since June After a return to positive
net flows in the second week of October, the spot Bitcoin ETFs
attracted massive levels of investments in the past week which
began with $555.86 million worth of inflows recorded on Monday,
October 14, representing the highest daily inflows witnessed by
these ETFs since June 4. According to data from SoSoValue,
these Bitcoin ETFs experienced positive investments of similar
sizes for the rest of the week culminating in a total inflow of
$2.18 billion, which is the fourth-highest weekly net flow
registered by these investment funds since their launch in
January. Of these reported figures, over $1.14 billion was
invested in BlackRock’s IBIT, which retains its position as the
largest spot Bitcoin ETF with cumulative net inflows of $22.84
billion. Unsurprisingly, Fidelity’s FBTC came a distant second with
inflows valued at $318.82 million. Bitwise’s BITB also
attracted investments valued at $149.81 million while Grayscale’s
GBTC broke a 21-week streak of outflows, recording its largest
weekly inflow of $91.47 million. All other spot Bitcoin ETFs except
Hashdex’s DEFI also experienced significant levels of inflows
albeit below $50 million. Presently, the cumulative total net
inflows of the spot Bitcoin ETFs stand at $20.98 billion.
Meanwhile, these investment funds hold total net assets of $66.11
billion i.e. 4.89% of the Bitcoin market cap. These figures being
achieved within ten months of trading demonstrate the enormous
potential of these ETFs in driving Bitcoin adoption. Related
Reading: Ethereum Derivative Market Sees Over 50,000 ETH Inflow –
Price Fall Imminent? Spot Ethereum ETFs Back To Positive Netflows
In the past week, the spot Ethereum ETFs also recorded positive
weekly inflows to the tune of $78.98 million. While this
figure seems significantly small compared to that of the Bitcoin
ETFs, it represents the third positive net flow in thirteen weeks
of trading. Similar to their Bitcoin counterpart, BlackRock’s ETHA
accounted for the majority of the reported figures with a $49.76
million inflow while Fidelity’s FETH emerged second, attracting
investments valued at $43.52 million. The spot Ethereum ETFs
continue to report a negative cumulative total net outflow of
$479.99 million while holding 2.31% of the Ethereum market cap
represented in $7.35 billion ETH. At the time of writing, Ethereum
trades at $2,649 with a 0.49% gain on the past day. Meanwhile,
Bitcoin is valued at $68,168 following a minor decline in the last
24 hours. Featured image from PCMag, chart from Tradingview
Ethereum (COIN:ETHUSD)
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Ethereum (COIN:ETHUSD)
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