Bitcoin and Ethereum ETFs See Substantial Inflows as Investor Confidence Rises
The post Bitcoin and Ethereum ETFs See Substantial Inflows as Investor Confidence Rises appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum exchange-traded funds have recently experienced huge inflows. As per Lookonchain, a popular on-chain analytics provider, Bitcoin ETFs have witnessed 7,494 $BTC while Ethereum ETFs have recorded 2,485 $ETH in net inflows on October 15, signaling a surge in institutional interest in the top crypto assets. The analytics platform took to social media to offer insights into the current status of the ETF inflows. Bitcoin ETFs Add a Staggering $490.19M in Inflows In its latest X post, Lookonchain pointed out that Bitcoin ETFs have seen enormous inflows of up to $490.19M worth. Hence, the inclusion of 7,494 $BTC denotes the latest capital influx in the prominent exchange-traded funds. Particularly, the Bitcoin ETF of Fidelity dominated the rest in terms of inflows by adding 183,695 $BTC tokens. This figure reportedly equals nearly $237.27M. $ETH ETFs Record Slight Inflows of $6.38M Apart from that, Ethereum ETFs have also experienced notable inflows with the addition of 2,485 $ETH. This amount reportedly equals $6.38M. iShares, a well-known $ETF platform in the market has played a significant role in these inflows. As per the data, it accounted for a total inflow of 419,621 $ETH, with a value of approximately $1.08B. As data points out, Bitcoin ETFs saw $809.5M in cumulative inflows during the recent 2 trading days. However, the minor inflows of Ethereum ETFs signify a relatively silent behavior. Even then, despite a quiet trading day on the 11th of this month, Ethereum ETFs witnessed a return on the 14th of October. Fidelity and Grayscale led the market with $8.6m and $8.7M in inflows. Increasing ETF Inflows Indicate a Rise in Institutional Interest According to Lookonchain, the inflows into Ethereum and Bitcoin ETFs highlight the mounting interest among institutional firms regarding these digital assets. A key reason behind this takes into account the…
Filed under: News - @ October 16, 2024 3:14 am