Bitcoin ETFs Surge with $116.96 Million in Inflows Led by Fidelity’s FBTC
The post Bitcoin ETFs Surge with $116.96 Million in Inflows Led by Fidelity’s FBTC appeared on BitcoinEthereumNews.com.
Recent data reveals a significant uptick in capital inflows for Bitcoin exchange-traded funds (ETFs), indicating renewed investor interest. The surge in deposits surpassed $116 million in a single day, showcasing the growing appeal of crypto assets in traditional investment portfolios. Notably, Fidelity’s Bitcoin ETF led this movement, amassing over $63 million, as institutional investment continues to shift towards digital currencies. This article discusses the recent surge in inflows for Bitcoin and Ethereum ETFs, highlighting institutional interest and trading volume dynamics. Bitcoin ETFs Experience Remarkable Inflows On Tuesday, data from sosovalue.xyz indicated that the 12 spot Bitcoin ETFs experienced a cumulative inflow of $116.96 million. Fidelity’s Bitcoin ETF (FBTC) emerged as the frontrunner, attracting $63.16 million, a significant contribution to the total. Following closely, Grayscale’s Mini Bitcoin Trust recorded inflows of $41.13 million, while Ark Invest and 21Shares’ ARKB garnered $12.68 million. In stark contrast, the remaining nine funds in the category did not register any movement in terms of capital. This influx raises the total net inflows since January 11 to an impressive $17.04 billion, positioning these funds to collectively manage $52.2 billion in Bitcoin, accounting for approximately 4.59% of Bitcoin’s overall market capitalization. Ethereum ETFs Also Witness Positive Trends Alongside Bitcoin’s ascendance, Ethereum ETFs mirrored this trend with positive inflows totaling $11.44 million on the same day. Fidelity’s Ethereum ETF (FETH) led this charge, attracting $7.13 million of the total, while BlackRock’s ETHA captured an additional $4.31 million. Despite this upward momentum, the cumulative inflows remain overshadowed by the considerable $562.06 million in outflows that have plagued Ethereum since July 23. The nine existing Ethereum ETFs are currently managing $6.53 billion in assets, which represents 2.28% of the overall Ethereum market capitalization. This highlights a more cautious sentiment among Ethereum investors, particularly in contrast to Bitcoin’s bullish flows. Market…
Filed under: News - @ September 11, 2024 4:18 pm