Bitcoin Bonanza! Money Floods In!

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Ah, the fickle dance of lucre! Those pompous US-based Bitcoin ETFs, like stray dogs sniffing for scraps, started the week with their tails between their legs. A grand $4.7 billion inflow streak, gone like a peasant’s hope in a nobleman’s feast! A whopping $460 million vanished on that dreary Monday, January 27th, as if swallowed by the abyss of failed promises. 💸

But lo! Like a drunkard regaining his footing, these Bitcoin ETFs appear to be staging a comeback! Yes, after the humiliation, they are pulling in hundreds of millions, like moths to a flickering candle. It seems the institutional wolves, usually so cautious, are once again throwing their hard-earned coins at the Bitcoin altar. A renewed faith, or a collective bout of madness? Only time, that old jester, will tell. 🤔

Bitcoin ETFs Build New $1 Billion 4-Day Inflow Streak

The latest market gossip, whispered from the lips of the financial oracles, speaks of a net capital inflow of $318 million on Friday, January 31st for the US-based spot Bitcoin ETF market. Yes, four days of coins flowing in, as if the crypto gods had finally smiled upon them after the Monday massacre. 😄

BlackRock’s iShares Bitcoin Trust (IBIT), that behemoth of finance, took the lion’s share, boasting an impressive $363.83 million on Friday. After a period of sluggishness, as if the old man was having a nap, it seems the trillion-dollar machine has cranked back to life, ready to gobble up more coins! 💰

ARK 21Shares Bitcoin ETF (ARKB) was not far behind, with a measly $35.5 million. VanEck’s Bitcoin exchange-traded fund (HODL), bless its heart, scraped together $5.76 million. The rest of them must be weeping in the corners, gnashing their teeth and wondering what is going on. 🤣

Bitwise Bitcoin ETF (BITB), a sad sight indeed, suffered a $56.03 million outflow, having only enjoyed 7 days of inflows in January. Grayscale’s GBTC also felt the sting, losing $30.59 million. These poor devils are surely regretting their choices. 😩

This $318 million single-day performance, despite feeling like a drop in the ocean, pushed the US-based Bitcoin ETFs’ weekly record to $556 million. A modest gain, but enough to start another streak. These things, like old habits, are hard to break. 🤡

Ethereum ETFs Return To Positive Inflows

And not to be outdone, the US-based Ethereum ETF market, like a puppy wanting attention, also saw a surge of inflows. A complete turnaround! It seems even these digital coins have found favor, after being left out in the cold. 🥶

The spot Ethereum ETFs ended the week with a net inflow of $27.78 despite Grayscale Ethereum Trust(ETHE) posting a significant outflow of $31.92 million. It seems one’s misfortune can become another’s opportunity. BlackRock’s ETHE ETF led this charge, amassing $57.27 million on Friday. 🚀

VanEck’s ETHV exchange-traded fund also added a tiny $2.43 million. But alas, this was not enough to save the Ethereum funds from a weekly outflow of $45.5 million. Well, they tried. 🤷‍♂️

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2025-02-02 18:14