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Read more: Spot Bitcoin ETFs Extend Inflows To $365M Over Six Consecutive Days
According to data from Farside Investors, total Bitcoin ETF inflows stand at approximately $1.1 billion for the week.
The leaders were the ARK 21Shares Bitcoin ETF, reaching as much as $203 million and Fidelity’s Bitcoin ETF commanding $124 million, the former seeing its largest single-day inflows since launch. In third place was BlackRock’s iShares Bitcoin Trust with inflows amounting to $110.8 million, which, given the net assets, represents the largest spot Bitcoin ETF.
Other Bitcoin ETF inflows this week include Grayscale’s Bitcoin Trust GBTC, with a total of $26.2 million as well as minor contributions across different Valkyrie, Invesco, Franklin Templeton, and Bitwise funds. This week also marked a thrilling comeback for Grayscale’s GBTC, which posted inflows after two weeks of no inflows.
Spot Ethereum ETFs also garnered interest with inflows of $58 million. Grayscale’s Ethereum ETF lost $10.7 million while Fidelity’s Ethereum ETF added $42.5 million and BlackRock’s offering added $11.5 million.
Beyond the ETF landscape, institutions are preparing for a potential Bitcoin rally in the fourth quarter, thanks in part to global monetary easing. With fresh liquidity from the People’s Bank of China, Chinese investors continue to buy the cryptocurrency as a hedge against precarious economic conditions within the country.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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