As a seasoned crypto investor with more than a decade of experience in this dynamic market, I find the recent trends in Bitcoin and Ethereum ETF inflows quite intriguing. The consistent inflows into BlackRock’s IBIT fund and other Bitcoin ETFs, despite the temporary dip in Bitcoin’s price, suggest a growing confidence in these digital assets among institutional investors.
On November 12th, BlackRock’s IBIT fund received approximately $778.2 million in investments, marking the fourth day in a row of significant inflows. Meanwhile, other ETFs experienced a decrease in investment as the price of Bitcoin fell below $86,000.
Based on information from SoSoValue, Bitcoin ETFs holding 12 positions experienced net investments amounting to $817.54 million on Tuesday. This marks the fifth consecutive day of inflows and brings the total accumulated investment to over $4.2 billion. The increase in investment seems largely driven by a surge of market optimism following Donald Trump’s re-election in the U.S., which has had a favorable impact on crypto investors’ overall sentiment.
BlackRock’s IBIT fund topped the investment with $778.27 million, pushing its total net inflows since launch to an impressive $28.92 billion. This consistent pattern of inflow indicates a strong preference for this Bitcoin ETF, as compared to other Bitcoin ETFs which have seen more limited growth or even outflows in some instances.
Over the period, investments also came in from Fidelity’s FBTC, Grayscale Bitcoin Mini Trust, and VanEck’s HODL, but these inflows were relatively smaller at approximately $37.2 million, $15.08 million, and $10.13 million each.
Instead, it’s worth noting that Grayscale’s GBTC and ARK 21Shares’ ARKB experienced withdrawals totaling $17.79 million and $5.36 million respectively on the same day. This is a significant change from the previous day when all 12 Bitcoin ETFs reported inflows, which occurred during a time of record-breaking daily trading volume of $7.31 billion.
The changes indicate market players adapting to recent price swings, with Bitcoin falling over 5% from its peak of $89,900 to around $85,500 on Tuesday.
As an analyst, I’m expressing my praise for the impressive performance of Bitcoin ETFs. Notably, the combined assets managed by these Bitcoin ETFs have exceeded $90 billion, representing a significant 72% of the value held in gold ETFs.
Currently, as I’m typing this, Bitcoin (BTC) was experiencing a slight rebound from its earlier dip, being traded around $86,917. However, over the last 24 hours, it saw a decrease of about 1.7%.
Ethereum ETFs record $131.9m inflows
In recent days, there has been a steady increase in investments towards Ethereum exchange-traded funds (ETFs), similar to Bitcoin ETFs. On November 12 alone, these funds experienced inflows amounting to $131.92 million. This marks the fifth consecutive day of such investments into Ethereum funds, and within the past week, they have amassed a total of $649 million.
Notably, Nov. 11 marked a record single-day inflow of $295.48 million for spot Ethereum ETFs.
On Tuesday, BlackRock’s ETHA Ethereum ETF saw a significant inflow of approximately $131.45 million, making it the front-runner in this sector. Not far behind was Bitwise’s ETHW, which garnered around $16.98 million in investments as well.
In recent times, various Ethereum-focused ETFs like Grayscale’s Ethereum Trust (ETHE), VanEck’s ETHV, and 21Shares’ CETH have seen an increase in investments. Specifically, Grayscale’s Ethereum Mini Trust received $12.71 million, VanEck’s ETHV received $6.02 million, and 21Shares’ CETH received $1.97 million. However, it’s worth noting that Grayscale’s main Ethereum ETF, ETHE, experienced net outflows amounting to $33.21 million, which somewhat offset the overall positive trend in Ethereum ETF investments.
According to recent information, the value of Ethereum (ETH) has dropped by 5.4% within the last day, with its current market price standing at approximately $3,151.
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2024-11-13 10:07