The post Solid Week for Bitcoin, Ethereum Funds but Warning Signs Appear: ETF Recap appeared on BitcoinEthereumNews.com.

Ever since the US presidential elections in the middle of last week, the spot Bitcoin ETFs had enjoyed a massive demand trend with a couple of $1+ billion inflow days before a slight change in investors’ tactics. The spot Ethereum ETFs also had some noteworthy days but ended the week in the red. Billions Enter BTC ETFs Investors had a cautious approach toward the spot Bitcoin ETFs ahead of the US elections but went on an accumulation spree after the dust settled. As reported last week, the net inflows for the three full trading days after it became known that Trump will be the next president were close to $2.3 billion. The trend continued into this business week, with a whopping $1,114.1 billion entering the funds on Monday. The positive numbers for Tuesday and Wednesday were at $817.5 million and $510.1 million. As such, the total inflows since the elections skyrocketed to nearly $5 billion in about a week. However, this is where the landscape changed as investors pulled out $400.7 million on Thursday and $239.6 million on Friday. Consequently, the business week ended with a massive $1,801.4 billion in net inflows, but questions were raised due to the two consecutive days in the red on Thursday and Friday. Within this timeframe, BTC’s price shot up to $93,800 on Wednesday where it peaked for its latest all-time high and retraced in the following days coinciding with the ETF fund allocations. The silver lining is that BlackRock’s IBIT, the world’s largest BTC ETF, continues to attract funds with seven consecutive days of net inflows. Now 7 straight days of inflows for iShares Bitcoin ETF (IBIT)… Nearly $3.4bil. For context, that $3.4bil exceeds the *total lifetime* inflows for every other 2024 ETF launch except FBTC. That’s out of 615 new ETFs. IBIT…

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Filed under: News - @ November 17, 2024 2:27 pm