Bitcoin ETFs Continue to Attract Funds, Is Ethereum ETF Inflow Reversing?Last week, Bitcoin ETFs saw a surge in inflows, with a total of $2.13 billion flowing into the asset class, marking the second consecutive week of net inflows
Bitcoin ETFs Continue to Attract Funds, Is Ethereum ETF Inflow Reversing?
Last week, Bitcoin ETFs saw a surge in inflows, with a total of $2.13 billion flowing into the asset class, marking the second consecutive week of net inflows. BlackRocks IBIT Bitcoin ETF emerged as the top performer, attracting $1.14 billion in a single week, bringing its total net inflows to a staggering $22.84 billion. Fidelitys FBTC followed closely, with nearly $319 million in net inflows for the week, accumulating to a total of $10.3 billion. Despite Grayscales GBTC experiencing a $91.47 million net inflow last week, its total remains at a cumulative net outflow of $20.1 billion. Currently, the total net asset value of Bitcoin ETFs stands at $66.11 billion, accounting for 4.89% of the total Bitcoin market cap, with a cumulative net inflow of $20.94 billion.
Ethereum ETFs are also showing signs of life, with a net inflow of $78.89 million last week, potentially suggesting a reversal in outflow trends for the coming weeks. BlackRocks ETHA Ethereum ETF performed best with a net inflow of $49.76 million last week, bringing its total net inflow to $1.26 billion. Fidelitys FETH also performed well, attracting $43.52 million in net inflow last week, accumulating to $4.98 billion. However, Grayscales ETHE Ethereum Trust ETF wasnt as active, with a net outflow of $31.03 million last week, bringing its cumulative net outflow to $3.01 billion. Currently, Ethereum ETFs have a total net asset value of $7.35 billion, representing 2.31% of the total Ethereum market cap, but with a cumulative net outflow of nearly $480 million. This might suggest that the markets enthusiasm for Ethereum still needs to be enhanced!
For the coming week, if this positive market sentiment and inflow trend continues, we can expect Bitcoin and Ethereum ETFs to continue attracting more funds. However, the market is always subject to uncertainty, and any regulatory changes, market sentiment shifts, or macroeconomic factors could impact inflows. Therefore, while the market looks optimistic in the short term, investors should remain cautious.
Is the spring of crypto and its derivative ETFs truly here? What are your thoughts on this wave of inflows?
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