U.S. spot bitcoin ETFs reported $252 million in net inflows on Friday, marking the highest since late July, while ether ETFs experienced a $5.7 million outflow, continuing a downward trend.
Bollywood Fever: At the close of trading on Friday, U.S. spot bitcoin exchange-traded funds (ETFs) reported a substantial $252 million in net inflows, marking the highest single-day inflow since late July.
This significant gain underscores the growing investor interest in bitcoin, even as ether ETFs continued their downward trajectory with a $5.7 million outflow.
The surge in bitcoin ETF inflows was led by Blackrock’s IBIT, which added $86.83 million to its reserves, pushing its total net inflows since January 11, 2024, to an impressive $20.71 billion.
Fidelity’s FBTC followed closely, gathering $64 million, while Grayscale’s Mini Bitcoin Trust absorbed $50.83 million.
Other notable inflows included Bitwise’s BITB, which recorded $42.26 million, and Ark Invest’s and 21Shares’ ARKB fund, which pulled in $23.81 million.
Vaneck’s HODL added $14.38 million, while the Invesco and Galaxy-backed BTCO captured $3.18 million. Valkyrie’s BRRR rounded out the day with a $2.25 million gain.
However, Grayscale’s Bitcoin Trust (GBTC) faced a challenging session, shedding $35.55 million.
Several funds, including EZBC, BTCW, and DEFI, remained neutral with no recorded inflows or outflows. Friday’s influx of $252 million brings the cumulative net inflows since January 11 to a total of $17.88 billion, with approximately $3.12 billion in trade volume registered on Friday.
Currently, the 12 bitcoin ETFs hold a combined $58.43 billion in bitcoin reserves, representing 4.65% of bitcoin’s total market capitalization.
In contrast, ether ETFs had another challenging day, with $5.7 million in outflows. Despite about $215.70 million in ether ETF trade volume on Friday, the negative trend persisted.
The $5.7 million loss adds to the cumulative net outflows, which have now reached approximately $464.65 million since July 23.
Vaneck’s ETHV fund led the modest inflows in the ether ETF space, bringing in $2.01 million, followed by Bitwise’s ETHW with $1.38 million in gains.
Fidelity’s FETH fund saw a smaller addition of $685,980. However, Grayscale’s ETHE experienced a significant $9.77 million outflow, contributing to the overall decline.
Currently, the nine ether ETFs collectively hold $7.65 billion in ether reserves, accounting for 2.31% of ether’s total market value.
The contrasting fortunes of bitcoin and ether ETFs highlight the differing market dynamics and investor sentiment surrounding these two leading cryptocurrencies.
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