Spot Bitcoin ETNs Report $65 Million in Net Inflows; Six-Day Positive Streak

Two U. S. spot Bitcoin exchange-traded funds (ETFs) attracted nearly $65 million in fresh cash on Thursday as even institutional investors have remained optimistic for six consecutive days. This was propelled by a massive inflow by the world’s largest spot Bitcoin ETF, BlackRock’s IBIT.

Spot Bitcoin ETFs sustain positive trend

Thursday saw $64 of U. S spot Bitcoin ETFs trading The proposed Proshares Bitcoin ETF is seeking to offer investors exposure to Bitcoin futures contracts traded on the CME, which has prompted regulators to approach the question of approving Bitcoin-based exchange traded funds more seriously. 91 million in net inflows, a cumulative six-day of positive flows for foreign investments in America ’s property market. Another case is BlackRock’s IBIT, the world’s largest spot Bitcoin ETF by assets under management, which saw the most inflows among similar products, at $75. 50 million in net inflows, as seen in the SoSoValue database.

Other large-quantity inflows were received in Fidelity’s FBTC, which attracted $9. 23 million raised by Spark digital asset fund, and Ark invest and 21Shares’ ARKB with $7. 83 million. BTCW by WisdomTree seemed to trail in teeny behind with $4. 8 million although Grayscale’s BTC attracted $4 million and VanEck’s HODL $3. Making 41 million of net inflows.

Yet, Grayscale’s GBTC remains the second-largest spot Bitcoin ETF, through which investors ploughed $28. 36 million left the fund, and of Bitwise’s BITB, only $11. With net redemptions in the amount of $5 million.

There was a combined trading volume of $889 on Thursday for the 12 spot Bitcoin ETFs. 67 million, which is much below the $1. The number, it was reported, reached 42 billion on Wednesday.

Ether ETFs See Modest Redemptions

At the same time, the nine spot Ethereum ETFs in the U. S. experienced $874,610 in net outflows last Thursday, which is well below $17. Seen the previous day it stood at 97 million active users.

The Grayscale Ethereum Trust (ETHE) kept on with the negative flows and recorded a net outflow of $19. This was the only spot Ether ETF to record such outflows on the day, with $84 million in net outflows.

On the other hand, Fidelity’s FETH was on a record high in terms of inflow of Ether ETFs, totalling to $14. 33 million. The Grayscale Ethereum Mini Trust (ETH) was at $3. ; 68 million in inflows, while VanEck’s ETHV recorded inflows of $954100. The remaining five spot Ether ETFs did not experience any outflow or inflow in the period.

The total daily trading volume for these spot Ether ETFs decreased to $93.87 million on Thursday, down from $201 million on Wednesday.

As of the time of writing, the price of Bitcoin edged up by 0.34% to trade at $60,988, while Ether climbed 1.71% to $2,668, according to The Block’s price page.

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