Bitcoin ETFs Hit $60 Billion in Assets as Ethereum Struggles to Attract Flow

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Bitcoin ETFs Hit $ Billion in Assets as Ethereum Struggles
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Bitcoin ETFs Hit $60 Billion in Assets as Ethereum Struggles to Attract Flow
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US-based Bitcoin (BTC) ETFs have reached a significant milestone, reaching $60 billion in assets under management (AUM), driven by a recent price surge for the asset. This growth is related to the growing flow of investments in spot Bitcoin ETFs, which had their best performance in three days since June this year.

According to data from the FarSide platform, inflows into Bitcoin ETFs began last Friday. After a three-day period of net outflows that stretched from Tuesday to Thursday, Bitcoin ETFs saw an inflow of $253.6 million on Friday. Then there were more inflows of US$555.9 million on Monday and another US$371 million on Tuesday. In total, the period accumulated US$1.18 billion in three days.

Among the main products that led these flows are Fidelity’s FBTC, which raised US$239.3 million on Monday, and Bitwise’s BITB, which registered US$100.2 million on the same day. On Tuesday, the highlight was BlackRock’s IBIT, which attracted US$288.8 million in new investments.

These significant numbers are one of the main factors behind the recent rise in the price of Bitcoin. After falling below US$59,000 last Thursday, the asset recovered and is currently up around 13.5%, trading in the US$68,000 range, according to data from CoinGecko.

Bitcoin ETFs once again attract investments

While spot Bitcoin ETFs continue to attract large volumes of investment, the situation is different for Ethereum (ETH) ETFs. Since its launch in July, Ethereum products have struggled to gain traction in the market. Much of this downward pressure comes from Grayscale’s substantial fund outflows.

Last week, Ethereum ETFs went through two days without any significant trading activity. It also recorded some days with minimal entries. Although the start of this week was more positive, with US$17 million in net inflows on Monday, Tuesday already registered a net outflow of US$12.7 million.

Despite the lack of interest in ETFs, the price of Ethereum has also shown gains since falling last Thursday. The asset rose more than 8% in the week and is currently trading above US$2,600. According to data from CoinGecko, Ether has risen by more than 14% in the last 30 days.

Bitcoin ETFs Hit $60 Billion in Assets as Ethereum Struggles to Attract Flow

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Bitcoin ETFs Hit $60 Billion in Assets as Ethereum Struggles to Attract Flow

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