Bitcoin And Ethereum ETFs Continue Positive Inflow Streaks — Details

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As an analyst with over two decades of experience in the financial industry, I must say that the recent performance of Bitcoin and Ethereum exchange-traded funds (ETFs) is nothing short of remarkable.

After the US approved Bitcoin spot ETFs in January 2024, many in the crypto community believed it was just a matter of time before similar products followed suit. True to expectations, six months after the launch of the BTC ETF, Ethereum ETFs were introduced in the United States as well.

As an analyst, I’ve noticed an intriguing trend in the market: Bitcoin ETFs started robustly at the year’s outset, while their Ethereum counterparts had a somewhat rocky debut post-launch. Yet, it seems both Bitcoin and Ethereum exchange-traded funds have managed to spark curiosity among U.S. investors, suggesting a growing interest in these digital assets.

Bitcoin ETFs Record 12th Straight Day Of Positive Inflows

Based on recent market figures from SoSoValue, U.S. Bitcoin ETFs trading on the spot market recorded a collective net investment of approximately $429 million on Friday, December 13. Remarkably, this marks the twelfth consecutive day that crypto-related products have seen an influx of capital.

As a researcher, I observed an interesting development over the past week. Specifically, I noticed that BlackRock’s iShares Bitcoin Trust (IBIT) played a substantial role in the capital influx we witnessed on Friday. This leading Bitcoin Exchange-Traded Fund (ETF) accumulated approximately $393 million in value by the end of the week.

In the recent inflow of capital, Fidelity’s FBTC trailed only slightly behind with approximately $60 million, while Bitwise’s BITB saw an influx of around $33.2 million. Both Ark Invest’s ARKB and 21Shares as well as VanEck’s HODL also recorded capital inflows amounting to about $28.41 million and $8.62 million, respectively.

It’s noteworthy that among all funds, only Grayscale’s GBTC experienced a withdrawal of $105.76 million on that specific day. However, this outflow was overshadowed by a massive influx of $428 million, which set a new single-day record for Bitcoin ETFs. This impressive inflow boosted the weekly total to an astounding $2.17 billion.

Currently, Bitcoin (BTC) is approximately priced at $101,367, showing little fluctuation over the past day. However, according to information from CoinGecko, the leading cryptocurrency has seen a roughly 2% increase in value over the last seven days.

Ethereum ETFs Set New Weekly Inflow Record

Yesterday, US-based Ethereum Exchange Traded Funds collectively saw a net increase of approximately $23.6 million, marking their 15th consecutive day of positive investments. Leading the charge was BlackRock’s Ethereum Fund (ETHA), with a one-day inflow of around $9.5069 million.

On Friday, no Ethereum exchange-traded funds except for BlackRock’s had outflows; instead, it was only Grayscale’s ETHE and Fidelity’s FETH that received additional investments totaling $7.24 million and $6.86 million respectively.

It’s worth noting that on this specific day, the inflow of Ethereum ETFs was significantly lower than the amounts seen on other days during the week, which totaled $854.85 million. Yet, it was sufficient to set a new weekly record for crypto product inflows.

The consistent investment flow into the Ethereum ETF sector underscores the rising interest in ETH, a trend evident in its price movements. Currently, Ethereum is valued at approximately $3,870, showing a minor decrease of nearly 1% over the last day.

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2024-12-15 15:41