As a seasoned crypto investor with a decade of experience under my belt, I must admit that the recent surge in the performance of US Bitcoin and Ethereum ETFs has left me quite impressed. The market’s resilience and the investor sentiment have been nothing short of remarkable.
Over the past few weeks, the performance of U.S. Bitcoin ETFs (exchange-traded funds) has been remarkable. In fact, they extended their stellar run by recording their strongest one-day performance in nearly 4 months at the end of the last trading week.
The positive investor sentiment surrounding the spot ETFs seems to have also bubbled into the Bitcoin and the general crypto market, which has recovered well from an early price slump in September.
US Bitcoin ETFs Post Nearly $500 Million In A Single Day
On September 27th (Friday), the U.S. Bitcoin ETF market saw its highest daily net investment since June 4th, amounting to approximately $494 million. This impressive figure follows a significant daily performance by crypto-related products, which accumulated over $365 million in just 24 hours prior.
Based on information from SoSoValue, Ark Invest’s ARKB fund topped the list with a $203 million investment inflow, while Fidelity’s FBTC took second place with approximately $124 million flowing in. Interestingly, BlackRock’s IBIT saw a comeback, attracting over $110 million in new investments.
During an unusual uptick, Grayscale Bitcoin Trust (GBTC) saw approximately $26.15 million being invested. This is the largest amount of capital inflow for GBTC since mid-May, indicating a rise in investment following the launch of spot Bitcoin ETFs.
Due to the strong performance on Friday, the cumulative net inflows for Bitcoin exchange-traded funds (ETFs) reached an impressive $1.11 billion last week. This marks the third consecutive week that US-based spot Bitcoin ETFs have recorded a weekly net inflow totaling more than a billion dollars.
Spot Ethereum ETFs Record Second Positive Week Ever
It appears that the strong showing of Spot Bitcoin ETFs has sparked a response from its Ethereum equivalent, as Ethereum funds experienced their second consecutive week of positive trading since their debut. Over the last seven days, these Ethereum ETFs have seen a total net inflow exceeding $84.51 million.
Last Friday, the cumulative net investment into Ethereum spot ETFs amounted to approximately $58.6 million. According to SoSoValue, Fidelity’s FETH was the top gainer with an inflow of about $42.5 million, followed closely by BlackRock’s ETHA with a net investment of around $11.46 million.
iShares Ethereum ETF eclipses $1bil in assets…
Now in top 20% of all 3,700+ ETFs.
Did this is 2 months.
— Nate Geraci (@NateGeraci) September 28, 2024
In a recent post on X, Nate Geraci, an expert in ETFs, highlighted that the BlackRock Ethereum ETF has reached a significant milestone, exceeding $1 billion in assets. Impressively, this was accomplished within just two months. Furthermore, Geraci pointed out that ETHA now ranks among the top 20% of over 3,700 ETFs currently operating in the United States.
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2024-09-29 12:11