US Spot Bitcoin ETFs Attract Record $479M in Inflows, Hitting 2-Week High

Table of Contents

Share

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.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions.