Follow Us @
BlackRock Bitcoin ETF leads weekly fundraising and Ether ETFs show recovery
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
Spot Bitcoin ETFs in the United States recorded daily net inflows of $470.48 million last Thursday. These entries continue the positive flow observed throughout the week. In total, the 12 Bitcoin funds have already accumulated more than US$1.85 billion in net inflows this week alone.
According to BTC Markets crypto analyst Rachael Lucas, favorable macroeconomic conditions are playing a crucial role in this movement. After all, central banks around the world are cutting interest rates. This leads investors to look for alternative assets, such as Bitcoin.
On Thursday, BlackRock’s IBIT ETF, the largest spot Bitcoin ETF in terms of net assets, led inflows with $309 million. According to SoSoValue data, this fund racked up more than $1.07 billion in inflows during the week, potentially marking the biggest weekly inflow since mid-March.
Among other spot Bitcoin ETFs, the Ark 21Shares fund (ARKB) recorded more than $100 million in net inflows on Thursday. Grayscale’s fund GBTC saw an inflow of $45.70 million. Meanwhile, Fidelity’s ETF FBTC reported inflows worth $11.69 million.
Bitcoin and Ethereum funds attract attention again
The Franklin Templeton Bitcoin ETF also recorded net inflows of $3.88 million on the same day. The other seven spot Bitcoin ETFs did not record flow movements.
The total trading volume of the 12 Bitcoin ETFs was around $1.47 billion on Thursday. This is a slight drop compared to the volume of US$ 1.58 billion recorded the previous day. Since the launch of ETFs in January this year, the accumulated volume of net inflows has exceeded US$20.66 billion.
On Wednesday, Bitcoin ETF inflows surpassed the $20 billion mark, which Eric Balchunas, senior ETF analyst at Bloomberg, described as the hardest metric to grow in the ETF market. He compared the performance to that of gold ETFs, which took about five years to reach the same value.
In addition to Bitcoin ETFs, Ether ETFs also recorded positive net flows, totaling $48.41 million on Thursday. This is the highest daily flow since September 27th. Fidelity’s ETF (FETH) led the inflows with $31.12 million, followed by BlackRock’s ETF (ETHA), which raised $23.56 million.
Other funds such as Bitwise ETHW, Invesco’s QETH and 21Shares’ CETH also saw net inflows. However, Grayscale ETHE was the only one to show net outflows, with a total of US$15.74 million in outflows.
US spot Ether ETFs traded a total of $126.7 million on Thursday. Since their launch, these funds have experienced cumulative net outflows of US$481.90 million, representing an improvement from the negative US$686.68 million recorded on September 23.
BlackRock Bitcoin ETF leads weekly fundraising and Ether ETFs show recovery
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
BlackRock Bitcoin ETF leads weekly fundraising and Ether ETFs show recovery
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
BlackRock Bitcoin ETF leads weekly fundraising and Ether ETFs show recovery
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
BlackRock Bitcoin ETF leads weekly fundraising and Ether ETFs show recovery