Bitcoin ETFs record $194.6M inflows, Ethereum slip

U.S. spot Bitcoin Exchange Traded Funds (ETFs) experienced a significant surge in inflows, with $194.6 million pouring into the funds yesterday, marking a substantial increase from the $45 million recorded the day before.

According to data from Farside Investors UK, the 12 spot Bitcoin ETFs collectively saw this impressive inflow, led by BlackRock’s IBIT, which alone attracted $157.6 million. WisdomTree’s BTCW also made a strong showing, pulling in $118.5 million. Fidelity’s FBTC followed with $65.2 million, and Ark Invest’s AKRB recorded $32.8 million.

The smallest inflow was observed in VanEck’s ETF, which garnered $3.4 million. However, Grayscale’s GBTC was the only Bitcoin ETF to record an outflow, with $182.9 million leaving the fund.

The total trading volume for spot Bitcoin ETFs reached $2 billion, up from $1.79 billion on Wednesday. This influx had a positive impact on Bitcoin’s price, which surged by 5.9% over the past 24 hours to $60,695, with a maximum price of $62,490. Despite this, Bitcoin remains 6.1% down from its peak price in the last seven days and 17.8% below its all-time high.

In contrast, the 9 spot Ethereum ETFs ended the day with a $2.9 million deficit. Despite inflows of $11.7 million into BlackRock’s ETHA and $5 million into Grayscale’s Mini Trust, outflows from Grayscale’s ETHE ($19.8 million) and Fidelity’s FETH ($2.6 million) resulted in a net loss for the day.

Ethereum‘s price saw a 7.3% increase, trading at $2,625 with a maximum of $2,709. However, it remains 16.6% down from its highest price in the last seven days and 45.8% below its all-time high.

This significant movement in the Bitcoin ETFs highlights the growing investor interest and market volatility in the cryptocurrency sector.