Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record
The post Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record appeared on BitcoinEthereumNews.com.
Key Points: Bitcoin Spot ETF Inflows Set New Record of $3.38B Ethereum ETFs Face Outflows Amid Bitcoin’s Success Bitcoin Spot ETF Inflows reached $3.38B last week, a new record with 7 weeks of growth, while BlackRock and Fidelity led inflows. Ethereum ETFs saw net outflows. Bitcoin Spot ETF Inflows Set New Record of $3.38B Inflows into Bitcoin Spot ETFs reached a record $3.38 billion during the week beginning November 18 and ending November 22, marking seven straight weeks of positive net inflows. It shows continuous interest in Bitcoin-tracking ETFs. The BlackRock ETF, IBIT, continued to top, with weekly inflows of $2.05 billion, while the Fidelity ETF, the FBTC, was second at $773 million of flows. These numbers are stunning and further solidify Bitcoin’s lead in the crypto ETF markets. According to Sosovalue, growing confidence in Bitcoin’s regulated investment product is reflected by an uptick in institutional involvement, which creates the conditions for further growth in the sector. Read more: Ethereum Spot ETF Inflows Hit $91.2M After Six-Day Outflow Ethereum ETFs Face Outflows Amid Bitcoin’s Success Meanwhile, Ethereum Spot ETFs continued bleeding and recorded a net outflow of $71.6 million this week. The largest outflow came from Grayscale‘s ETHE ETF with $95.57 million, which was partly offset by BlackRock’s ETHA recording a $78.34-million net inflow for the week. The opposing trends of Bitcoin and Ethereum ETFs underline the evolution in market dynamics. Recent outflows from Ethereum reveal investors’ cautiousness, either as a function of general market conditions or broad-based preference for Bitcoin as the leading crypto asset in ETFs. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. Source: https://coincu.com/293664-bitcoin-spot-etf-inflows-hit-3-38-billion
Filed under: News - @ November 25, 2024 7:13 am