US bitcoin spot exchange-traded funds (ETFs) are roaring today, recording the largest inflow in four months with a total sum of $556 million transferred to 12 funds. Coincidentally, when the entry was received, bitcoin was recovering and hit a two-week high of $66,500.
The highest single-day flow of $239 million came through btc/” rel=”nofollow noopener” target=”_blank”>Far Side (FBTC)the highest since June. Others that performed well include Bitwise (BITB) with $100 million and BlackRock (IBIT), which managed to attract new investors to the rake with $79.51 million.
Increased activity across all funds
Various funds published crypto/bitcoin-etfs-250m-inflows-ethereum-etfs-lag/” rel=”nofollow noopener” target=”_blank”>tickets as the market continued to recover. Shares of ARK Invest and 21Shares (ARKB) stood at nearly $70 million, while grayscale (GBTC), the bitcoin trust, recorded its first inflow since September with just over $37 million, even as the trust had problems with massive accumulated outflows of 20 billion dollars. since its beginnings.
Source: btc/" rel="nofollow noopener" target="_blank">Farside Investors
Other small funds that recorded inflows included: HODL, EZBC, BTCO, Grayscale btc Mini Trust and Valkyrie, whose inflows totaled more than $29 million.
Its rising stock also boosted the trading volumes of these 12 bitcoin-bull-market-drawdown-reaches-26-amid-whale-accumulation-and-etf-inflows/” rel=”nofollow noopener” target=”_blank”>bitcoin ETF up to 2,610 million dollars. Analysts project that this new increase will further boost such funds using the net inflows achieved in the last 10 months, which currently stand at $19.36 billion. This could also be because bitcoin ETFs also accept more than just gold-based products, reaping $1.5 billion in net inflows this year.
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btc market cap currently at $1.29 trillion. Chart: TradingView.com
ethereum ETFs lag behind bitcoin
bitcoin ETFs Rising to the Greatest Degree Compared to ethereum-sees-mixed-signals-as-etfs-struggle-but-network-upgrades-loom/” rel=”nofollow noopener” target=”_blank”>ethereum ETF, which responded relatively better. Net inflows to ethereum ETFs totaled $17 million, led by BlackRock (ETHA) with $14 million.
Image: Regtechtimes
Other funds in Fidelity (FETH), Invesco (QETH), and 21Shares (CETH) received flows ranging from $393,690 to $1.30 million. ethereum ETF trading volumes also increased to $210 million from $143.54 million the previous day. In fact, since their launch in July, ethereum ETFs have seen net outflows of $542 million.
The total cryptocurrency market also began to recover its losses with bitcoin trading at $65,268. Meanwhile, ethereum rose almost 3% to reach the $2,594 level by the end of the day.
As Nate Geraci, president of ETF Store, said, this day was a “monster day” for spot bitcoin ETFs, as the cryptocurrency investment product continues to gain mass appeal ahead of traditional, safer assets such as gold.
Featured image from Global Finance magazine, chart from TradingView
