As a seasoned crypto investor with a knack for spotting trends and a penchant for BlackRock ETFs, I find myself encouraged by the recent surge in net inflows towards Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. market. The consistent positive flows into Bitcoin ETFs, spearheaded by giants like BlackRock’s IBIT, indicate a growing institutional interest in digital assets.
On September 24th, U.S.-listed Bitcoin exchange-traded funds saw a substantial increase in net investments, while Bitcoin Ethereum counterparts switched direction, returning to positive net inflows.
According to SoSoValue’s data, Bitcoin ETFs with a 12 spot designation saw a net investment of $135.95 million on that particular day. This marks the fourth consecutive day these ETFs have experienced positive investments. Over this four-day span, these funds have gathered approximately $390.7 million in total.
In simple terms, the Bitcoin ETF managed by BlackRock’s IBIT (the largest Bitcoin ETF) led the way in new investments with approximately $98.9 million. This marks the second consecutive day of positive investment and increases its total net inflows to an impressive $21.03 billion since it began.
Bitwise’s BITB and Fidelity’s FBTC received approximately $17.4 million and $16.8 million, respectively, into their investment funds. Additionally, Grayscale Bitcoin Mini Trust collected around $2.9 million.
The remaining eight BTC ETFs including Grayscale’s GBTC remained neutral on the day.
On September 24th, the combined trading volume for all 12 Bitcoin ETFs reached a peak of $1.11 billion, exceeding the $949.72 million from the day before. Since their launch, these funds have experienced a total net inflow of approximately $17.83 billion. At the moment of press, one Bitcoin (BTC) was trading at $64.196, marking a 1.6% increase over the previous day.
On September 24th, nine Ethereum ETFs based in the U.S. experienced a total inflow of $62.5 million, marking a reversal from the net outflows observed on the previous day. The majority of these new investments were directed into BlackRock’s ETHA fund, which received an additional $59.3 million.
On that particular day, VanEck’s ETHV and Invesco’s QETH attracted inflows of approximately $1.9 million and $1.3 million each. The rest of the Ethereum-based ETFs did not register any trading activity.
On September 24th, the trading activity for these investment instruments significantly increased, reaching approximately $180.42 million compared to $167.35 million recorded the day before. Moreover, the ETFs tied to spot Ether have collectively witnessed a substantial withdrawal of around $624.17 million. As of publication, Ethereum (ETH) was being actively traded at approximately $2,623.
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2024-09-25 09:48