US Spot Bitcoin ETFs Record $479 Million in Net Inflows, Highest in Two Weeks

  • U.S. spot bitcoin ETFs saw $479.35M in inflows Monday, with BlackRock leading at $315.19M, extending its 11-day inflow streak.
  • Total bitcoin ETF trading volume hit $3B on Monday, boosted by a 4.75% rise in bitcoin price, reaching a new high of $71,200 since June.
  • U.S. spot Ethereum ETFs saw $1.14M in outflows, contrasting with bitcoin’s growth; Grayscale’s ETHE led the exits with $8.44M.

U.S. spot bitcoin exchange-traded funds (ETFs) witnessed an impressive influx of $479.35 million on Monday. This figure marks the largest daily inflow over the past two weeks, underscoring strong investor interest in bitcoin’s market position. The data, compiled by SoSoValue, illustrates a continuing appetite for digital asset investment products, reflecting a notable shift in investment strategies. 

BlackRock Leads with 11 Consecutive Days of Positive Flows

Currently, BlackRock’s IBIT, which is  the largest U.S. spot bitcoin ETF in terms of net assets, spearheaded the day’s flows, recording $315.19 million in fresh investment. This marks an impressive 11-day streak of net inflows for the fund. BlackRock’s performance indicates consistent investor confidence, with its ongoing positive inflow streak setting a significant benchmark in the ETF sector.

Notably, other funds also experienced inflows. Ark and 21Shares’ ARKB recorded $59.78 million in new investments, while Fidelity’s FBTC gained $44.12 million. Bitwise’s BITB and Grayscale’s BTC added $38.67 million and $21.59 million, respectively. However, seven other spot bitcoin ETFs remained unchanged, reporting zero inflows. 

Bitcoin Price Rise Coincides with Increased ETF Activity

Additionally, Bitcoin prices rose by 4.75% over the past 24 hours, reaching $71,200, a new high since June. As digital assets gain value, market participants appear eager to invest in related financial products, leading to an increase in total daily trading volume. These twelve U.S. spot bitcoin ETFs collectively reached a $3 billion trading volume on Monday, up from $2.9 billion the previous Friday.

Moreover, the spike in ETF trading volume and bitcoin price suggests a close correlation between investor sentiment and crypto market trends. Industry analysts point to bitcoin’s price growth as a driving factor in ETF investment, highlighting its potential role in reshaping how investors allocate assets in a fluctuating financial landscape. 

Read CRYPTONEWSLAND on Google News google news

Ethereum ETFs Experience Outflows Amid Bitcoin’s Gains

However, while bitcoin ETFs saw significant inflows, U.S. spot Ethereum ETFs experienced net outflows of $1.14 million on Monday. This marks a decrease from Friday’s outflows of $19.16 million, indicating fluctuating interest in Ethereum-backed products.

Notably, Grayscale’s ETHE witnessed $8.44 million in outflows, a move partially offset by inflows of $5.02 million into Fidelity’s FETH and $2.28 million into BlackRock’s ETHA. The remaining six spot ether ETFs did not record any flows.

Therefore, Ethereum’s ETF trading volume also slightly declined, reaching $187.49 million on Monday, down from Friday’s $189.88 million. These contrasting trends underscore differing investor approaches within the cryptocurrency market, as bitcoin maintains a dominant position while Ethereum-backed products reflect mixed investor sentiment.

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Other posts