US-based Bitcoin ETFs have had a spectacular performance over the past seven days, recording net inflows of $2.1billion. Ethereum’s counterparts are finally turning the corner, registering their third consecutive positive week of inflows.
Spot Bitcoin ETFs record highest daily inflow since June
The aforementioned After return to positive net flows In the second week in October, spot Bitcoin ETFs have attracted huge levels of investment. The week began with $555.86 millions worth of inflows on Monday, which was the largest daily inflows for these ETFs seen since June 4.
As per data from SoSoValue, The Bitcoin ETFs continued to see positive returns of similar magnitudes for the rest the week. They ended up with a net investment totaling $2,18 billion. That is the 4th highest amount of money invested by the funds in one single week since their January launch.
BlackRock IBIT is the biggest Bitcoin ETF, with net cumulative inflows totaling $22.84billion. Fidelity FBTC was a distant 2nd with an inflow of $318.82million.
Bitwise’s BITB attracted investment valued at $149.81 million, while Grayscale’s GBTC ended a streak of 21 weeks of negative outflows by recording GBTC’s largest weekly inflow at $91.47 millions. Hashdex DEFI and all other Bitcoin spot ETFs experienced inflows of at least $50 million.
The cumulative net inflows for Bitcoin ETFs are currently at 20.98 Billion dollars. The total net assets for these funds is $66.11 billion, or 4.89%. These funds represent 4.89% the Bitcoin market capitalization. This achievement within 10 months of trading shows how these ETFs can be a powerful tool in driving Bitcoin adoption.
The netflow of Spot ETFs is now positive
In the week ending on Monday, spot Ethereum-based ETFs recorded positive weekly flows of 78.98 Million dollars. This figure may seem small in comparison to the Bitcoin ETFs but it is the third net positive flow over the past thirteen trading weeks.
BlackRock ETHA has the largest reported inflow with a total of $49.76million, while Fidelity FETH is second, attracted investments worth $43.52million. These spot Ethereum ETFs have continued to experience a cumulative net loss of $479.9 million, with a holding of 2.31% in the Ethereum market capitalization represented as $7.35 Billion ETH.
Ethereum is currently trading at $2.649, a gain of 0.49% over the last day. Bitcoin’s value is $68,168, following a slight decline over the past 24 hours.
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Source: www.newsbtc.com
