Bitcoin, Ethereum Funds See Best Inflow Week in Months – Crypto News – Crypto News
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Bitcoin, Ethereum Funds See Best Inflow Week in Months Bitcoin, Ethereum Funds See Best Inflow Week in Months

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Bitcoin, Ethereum Funds See Best Inflow Week in Months – Crypto News

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1 year ago

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US investors showed increased demand for the spot Bitcoin ETFs during the entire trading week, with more than $1 billion entering the 11 such US-based funds.

Interestingly, the interest for their spot Ethereum counterparts has also picked up, as they registered their second-best week since going live in July.

Over $1B in Bitcoin ETFs in a Week

CryptoPotato reported last weekend the growing net inflows into the spot Bitcoin ETFs, especially after the US Federal Reserve cut the interest rates on September 18. The past five days have only intensified this trend, even though the landscape on Monday seemed quite modest, with only $4.5 million in net inflows.

However, investors accelerated their efforts in the following days, especially on Thursday and Friday. After $136 million and $105.9 million in net inflows on Tuesday and Wednesday, investors poured in $365.7 million on Thursday and a whopping $494.4 million on Friday, which became the ETFs’ most successful day since early June.

What’s particularly interesting about the massive inflows on Thursday and Friday is that the biggest beneficiary was Ark Invest’s ARKB, with $113.8 million and $203.1 million, respectively. Fidelity’s FBTC and BlackRock’s IBIT trailed behind with $74 million and $93.4 million on September 26 for both and $123.6 million and $110.8 million on September 27, respectively.

Overall, the net inflows for the entire week for all spot Bitcoin ETFs stood at $1.106,5 billion, according to FarSide. This makes it the most positive week since mid-July.

Within this timeframe, BTC’s price jumped to a multi-month peak of its own at $66,500 before retracing by about a grand today.

Ethereum ETFs on the Rise

As repeatedly mentioned before, the spot Ethereum ETFs had failed to attract a lot of attention since their launch in July. However, there’re some signs that the trend could change soon.

The trading week that started on September 23 began with massive outflows worth over $79 million. Nevertheless, investors changed their strategy in the following days, with $62.5 million in net inflows on Thursday, $43.2 million on Wednesday, and $58.7 million on Friday. Minor withdrawals of $0.1 million were registered on Thursday.

As such, the spot Ethereum ETFs saw $85.2 million in net inflows during the entire week, making it the second-best since they went live on US stock exchanges in July. The record still belongs to the period between August 5 and August 9.

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