Bitcoin spot ETFs recorded net inflows of $240 million, ending a six-day straight outflow trend, according to SoSoValue data.
Bitcoin and Ethereum Spot ETFs Re-Entry Wave: $240 Million Net Inflow
The bulk of the inflows came from the market’s two largest fund providers. BlackRock’s IBIT ETF saw net inflows of $112 million in a single day, while Fidelity’s FBTC fund saw net inflows of $61.6 million. This recovery suggests investors are strengthening their long-term positions despite market volatility.
According to recent data, the total assets under management (AUM) of Bitcoin ETFs has reached $135.4 billion, representing 6.73% of Bitcoin’s total market capitalization. Experts say this increase, coupled with expectations of a US interest rate cut, has brought renewed confidence to the crypto markets.
Meanwhile, Ethereum spot ETFs also ended a six-day outflow streak. The funds recorded net inflows of $12.51 million on November 6, indicating renewed investor interest.
BlackRock’s ETHA ETF and Fidelity’s FETH ETF led the way with inflows of $8 million and $4.94 million, respectively. Grayscale’s ETHE fund, on the other hand, saw outflows of $3.52 million on the same day.
According to the latest data, the total asset value of Ethereum ETFs is $21.75 billion, which corresponds to 5.45% of the total market capitalization of ETH.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-and-ethereum-etf-outflows-end-heres-the-latest-data/