Bitcoin ETFs See Record Investment This Week

On the opening trading day of the week in the U.S., spot Bitcoin exchange-traded funds (ETFs) attracted an impressive net inflow of $479.4 million. This significant increase marks the highest daily influx observed since October 14. The leading contributor was BlackRock’s IBIT fund, which alone drew in $315.19 million, continuing its upward trend for eleven consecutive days.

Which ETFs Are Gaining Popularity?

The ARKB fund, a collaboration between Ark Invest and 21Shares, also performed well, securing $59.78 million. In addition, Fidelity’s FBTC fund registered a robust inflow of $44.12 million. Other notable funds included Bitwise’s BITB and Grayscale’s Bitcoin ETFs, with inflows of $38.67 million and $21.59 million, respectively, although the other seven spot Bitcoin ETFs did not see any inflows.

Why Are Ethereum ETFs Struggling?

In sharp contrast, spot Ethereum ETFs faced a net outflow of $1.14 million on the same day. This figure is an improvement from the $19.16 million outflow recorded on Friday. Grayscale’s ETHE saw the largest outflow at $8.44 million, while Fidelity’s FETH and BlackRock’s ETHA funds managed to capture $5.02 million and $2.28 million in inflows, respectively.

The total trading volume for Bitcoin ETFs surged to $3 billion, compared to $2.9 billion on Friday. Bitcoin’s price climbed by 4.75%, reaching $71,200, the highest point since June, while Ethereum also increased by 5.11% to $2,619.

• Spot Bitcoin ETFs have seen a resurgence in investor interest.
• BlackRock’s IBIT fund leads the charge with substantial inflows.
• Ethereum ETFs experience notable outflows, highlighting a shift in investor focus.
• Overall trading volume indicates a growing confidence in Bitcoin.

The stark difference in performance between Bitcoin and Ethereum ETFs suggests a significant shift in market sentiment, with Bitcoin gaining traction while Ethereum struggles to attract investment. This divergence may influence future strategies for both asset types.