The landscape around the spot Bitcoin ETFs turned highly positive in the past week, with the products attracting more than $2 billion in net inflows.
This has become their best five-day trading period in this regard since mid-March.
Massive Inflows for BTC ETFs
It’s safe to say that it was a big week for the 11 US-based spot Bitcoin ETFs, with several multi-month peaks, such as BlackRock’s best day since July on Wednesday. The total net inflows rose above $20 billion that day, but they kept climbing by the end of the week and are currently worth just over $21 billion, according to Farside data.
Monday saw the most inflows out of the entire five-day trading period, with $555.9 million entering the funds. $371 million was poured in on Tuesday, $458.5 million on Wednesday, $470.5 million on Thursday, and a more modest $273.7 million on Friday. This brought the total net inflows value to $2,132.6 billion for the week, which makes it the most lucrative one since March 11-15, when the number was more than $2.5 billion.
BlackRock’s IBIT led the pack on Tuesday, Wednesday, and Thursday, and it saw more than $1 billion in net inflows alone. The other big beneficiaries this week included Fidelity’s FBTC ($348 million) and Ark Invest’s ARKB ($306.1 million).
There were actually no net outflows registered throughout the week, as even Grayscale’s largest fund saw some inflows on Monday, Tuesday, and Thursday.
Naturally, the price of the underlying asset gained a lot of value during this period, surging from $62,500 on Monday to a multi-month peak of $69,000 on Friday.
Ethereum ETFs See Some Demand?
The spot Ethereum ETFs have failed to attract a lot of interest since their launch in July, but the past five trading days went quite well for them. Aside from the $12.7 million in net withdrawals on Tuesday, the numbers were positive for Monday ($17 million), Wednesday ($24.2 million), Thursday ($48.4 million), and Friday ($1.9 million).
Consequently, the total net inflows stood at $78.8 million for the week, making it the best one since August 5-9.
ETH’s price also charted impressive gains over the past several days, surging from $2,450 on Monday to $2,640 as of now.
The post ETF Recap: Bitcoin Funds Register Best Inflow Week Since March appeared first on CryptoPotato.
