The Spot Bitcoin Exchange Traded Funds in the United States recorded a massive increase in inflows yesterday given that they attracted only $45 million the day before.
The 12-spot Bitcoin ETFs pulled in an impressive $194.6 million in inflows yesterday, an over three-fold margin to what it pulled on Wednesday.
The 9-spot Ethereum ETFs on the other hand ended the day on a deficit with $2.9 million leaving the funds.
Bitcoin ETFs Three-fold inflow
According to Data from Farside Investors UK, The 12 spot Bitcoin ETFs recorded an impressive inflow of $194.6 million for the day.
Blackrock’s IBIT led the inflows for the day attracting $157.6 million into the fund. Wisdom Tree’s BTCW punched above its weight pulling in an impressive $118.5 million in inflows.
The inflows from the two funds above were followed by inflows in Fidelity’s FBTC which recorded $65.2 million in inflows while Ark Invest and 21 shares AKRB recorded an inflow of $32.8 million.
The smallest inflow for the day was recorded by VanEck pulling in $3.4 million in inflows.
Grayscale’s GBTC was the only ETF product to record an outflow for the day with $182.9 million leaving the funds.
According to Data from Soso Value, The total trading volume for spot Bitcoin ETFs hit $2 billion rising from $1.79 billion on Wednesday.
Bitcoin Price Analysis at the Moment
Bitcoin reacted positively to the inflows in its ETFs since yesterday. At the time of the report, Bitcoin is exchanging hands for $60,695 surging by 5.9% in the past 24 hours with a maximum price of $62,490 and a minimum price of $56,937.
Despite the price improvement, Bitcoin is still 6.1% down from its peak price in the last seven days.
The crypto asset is 17.8% down from its all-time high.
Ethereum ETF’s shed $3 million in Outflows
On the side of Ethereum ETFs, the 9 spot Ethereum ETFs shed a minimal loss of $3m after the day’s trading.
According to Data from Farside Investors UK, Blackrock’s ETHA recorded $11.7 million in inflows followed by Grayscale’s Mini Trust which pulled in $5 million in inflows. Bitwise Ether Trust fund pulled in $2.8 million.
These inflows were checkmated by net outflows on Grayscale’s ETHE which saw $19.8 million leave the funds and Fidelity’s FETH which saw $2.6 million exit the funds.
The Outflows outweighed the Inflows leaving the 9-spot Ethereum ETFs with a $2.9 million deficit for the day.
Ethereum Price Analysis at the Moment
Ethereum at the time of the report is exchanging hands for $2,625 surging by 7.3% in the last 24 hours with a maximum price of $2,709 and a minimum price of $2,424.
The crypto asset is down 45.8% from its all-time high.
What to Know
Ethereum is currently 16.6% down from its highest price in the last 7 days which was $3,145.
The Bitcoin ETFs recorded a Three-Fold Inflow yesterday up from Tuesday’s inflow of $45 million.