Bitcoin ETF Inflows Hit 1,017 BTC as Ethereum ETFs Record $385K Outflow
The post Bitcoin ETF Inflows Hit 1,017 BTC as Ethereum ETFs Record $385K Outflow appeared on BitcoinEthereumNews.com.
Recent data reveals significant activity in Bitcoin ETFs, with ten major funds experiencing a net inflow of 1,017 BTC, valued at approximately $64.31 million. Among the prominent contributors, Fidelity Wise Origin Bitcoin Fund stands out with an inflow of 415 BTC, equivalent to $26.26 million. Fidelity currently holds 177,067 BTC, valued at $11.2 billion, showcasing its strong position in the market. According to Lookonchain, The iShares (Blackrock) Bitcoin Trust remains the largest holder with 357,550 BTC but reported no inflows or outflows in the past day. Meanwhile, the ARK 21Shares Bitcoin ETF saw an inflow of 350 BTC, amounting to 1,598 BTC over the week, reflecting steady investor interest. Other notable funds, including Bitwise and Vaneck Bitcoin Trust, also posted positive inflows, further highlighting growing investor confidence in Bitcoin ETFs. Ethereum ETFs Record Mixed Performance with Net Outflows In contrast to Bitcoin ETFs, Ethereum-focused ETFs experienced a slight decline, with a net outflow of 146 ETH, valued at approximately $385,000. Grayscale Ethereum Trust, the largest holder with 1,717,725 ETH worth $4.55 billion, saw an outflow of 117 ETH, equating to $310,500. This outflow reflects ongoing market adjustments amid fluctuating investor sentiment. The iShares (Blackrock) Ethereum Trust, however, reported strong inflows, adding 6,060 ETH over the past week, indicating renewed interest in Ethereum-focused investments. The Grayscale Ethereum Mini Trust also showed positive movement with an inflow of 2,186 ETH, suggesting pockets of resilience within the broader market trends. The overall net inflows in Bitcoin ETFs suggest robust demand, with inflows outpacing outflows across several major funds. Ethereum ETFs, while experiencing some outflows, still display areas of strength, particularly among newer and smaller funds. The contrasting trends between Bitcoin and Ethereum ETFs highlight the nuanced dynamics within the digital asset investment landscape, driven by investor sentiment and market conditions. Source: https://blockchainreporter.net/bitcoin-etf-inflows-hit-1017-btc-as-ethereum-etfs-record-385k-outflow/
Filed under: News - @ September 24, 2024 12:23 am