US Spot Bitcoin ETFs Attract Record $479M in Inflows, Hitting 2-Week High
U.S. spot bitcoin exchange-traded funds (ETFs) saw their largest daily inflows in two weeks on Monday. According to data from SoSoValue, the funds attracted $479.35 million in investment on the day, with BlackRock’s IBIT leading the charge. In quite the typical manner, BlackRock’s IBIT led the inflows after adding $315.19 million to extend its streak of consecutive positive flows to 11 days. Ark and 21Shares’ ARKB followed with $59.78 million in inflows, while Fidelity’s FBTC came third after seeing $44.12 million inflows on the day. $38.67 million and $21.59 million were also added to Bitwise’s BITB and Grayscale’s BTC, respectively, while the remaining seven spot Bitcoin ETFs experienced zero flows. Interestingly, none of the funds saw negative flows on the day, pointing to the fact that there is a strong sentiment around Bitcoin at the present moment. Also, the total daily trading volume for all 12 ETFs reached $3 billion on Monday, up from $2.9 billion on Friday. As of publication, Bitcoin was seen trading at $72,746 , up 4.13% over the past 24 hours. That is, according to data from CoinMarketCap. The gains within this short period have been enough to take the cryptocurrency to heights not seen since June. At that same time, Ether climbed 2.94% to change hands at $2,640. Contrasting Fortunes Between Bitcoin and Ether ETFs While spot Bitcoin ETFs in the U.S. saw cumulative positive daily flows on Monday, the story was a bit different with their Ethereum counterparts. Spot Ethereum ETFs in the U.S., for instance, saw a modest $1.14 million in net outflows on Monday. However, it might be something to cheer about as the latest outflow pales in comparison to the $19.16 million in net outflows recorded on Friday. Of all Ether ETFs, Grayscale’s ETHE was the only spot Ether ETF that had capital flow out of it. The fund saw $8.44 million exiting it. The likes of Fidelity’s FETH and BlackRock’s ETHA saw $5.02 million and $2.28 million in new investments, albeit respectively. All other six spot Ether ETFs recorded zero flows.
US Bitcoin ETFs, BTC Price, Plummet amid Ongoing Middle East Crisis
On Tuesday, the market recorded a net outflow of over $242 million.
Australia Approves First Spot Bitcoin ETF on ASX
the VBTC fund will remove barriers such as that which makes investors hesitant about directly purchasing or safeguarding crypto due to their unfamiliarity with its technicalities.
Hong Kong Spot Bitcoin and Ether ETFs To Begin Trading on April 30, Here’s What to Expect
ETF issuers are expected to be in an unspoken race to gain first mover advantage.
