Spot Bitcoin ETFs Back To Positive Returns With $308 Million Inflows – Details
13 Octobre 2024 - 2:00PM
NEWSBTC
According to data from SoSoValue, the US-based spot Bitcoin ETFs
have recorded over $300 million in net inflows over the past week,
representing a return to the market’s positive trajectory after a
bearish first week in Q4 2024. Meanwhile, the Spot Ethereum
ETFs still retain a negative performance despite a reduction in net
outflows. Related Reading: US Spot Bitcoin ETFs Become
Second-Largest Holder Of BTC Behind Satoshi Spot Bitcoin ETFs Halt
Three-Day Decline With $254 Million Inflow Following the $300
million net outflow recorded in the first week of October, the spot
BTC ETF market opened last week on a positive note recording net
inflows of $236.19 million on Monday, October 7. However, these
investment funds soon experienced a three-day downturn resulting in
cumulative outflows of $179.98 between October 8-10. On
Friday, October 12, these Bitcoin ETFs registered aggregate inflows
of $253.54 million, representing the highest daily capital
investment over the past two weeks. The majority of these gains
came from Fidelity’s FBTC which attracted inflows of $117.10
million. Ark & 21 Shares ARKB also saw inflows of $97.58
million, while Bitwise’s BITB garnered $38.81 million from
investors. Meanwhile, VanEck’s HODL and Invesco’s BTCO also
recorded significant inflows of $14.26 million and $7.88 million.
All other Bitcoin spot ETFs including BlackRock’s IBIT experienced
zero inflows, except Grayscale’s GBTC which produced a net outflow
of $22.09 million. Following the recent weekly gains, the total net
assets of the spot Bitcoin market increased to $58.66 billion,
representing 4.71% of the BTC market cap. BlackRock’s IBIT accounts
for about 40% of these assets holding 369,640.1 BTC, valued at
$23.30 billion. Grayscale’s GBTC initially ranked as the
largest Bitcoin spot ETF holding 600,000 BTC tokens. However,
massive levels of outflows valued at $20.19 billion allow the fund
to sit second with 220,177.5 BTC valued at $13.85 billion. Related
Reading: Bitcoin ETF Options Set To Supercharge Price Volatility,
Expert Warns Spot Ethereum ETFs Maintain Negative Return Streak In
other news, the spot Ethereum ETFs produced another dismal
performance in the past week, recording net outflows of $5.22
million. While this value represents a $25.47 million reduction
from the figures reported in October’s first week, it marks the
10th week of negative returns in the 12 trading weeks for the Spot
Ether ETFs. Interestingly, these funds only recorded a single day
of daily inflow ($3.06 million) in the past week. The total net
outflows of spot Ethereum ETFs are currently valued at $558.88
million. Meanwhile, the total value traded in this market stands at
$143.54 million. At the time of writing Ethereum trades at $2,459
with a 0.78% gain in the last day, while Bitcoin remains valued at
$62,725 following a 0.22% price rise in the same period. Featured
image from Crypto Valley Journal, chart from Tradingview
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