Bitcoin and Ethereum ETFs see $2.1B net inflows

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Grafa2024/12/16 09:10

By:Mahathir Bayena

Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) exchange-traded funds (ETFs) experienced significant net inflows in the past week, continuing their momentum from earlier in November.

US investors maintained strong interest in Bitcoin ETFs, particularly after Donald Trump’s victory in the presidential elections.

The streak of inflows into Bitcoin ETFs extended into the past five trading days, accumulating $2.1 billion in total.

From December 9 to December 13, spot Bitcoin ETFs saw substantial daily inflows.

On Monday, $489.1 million flowed into these funds, followed by $438.5 million on Tuesday and $223.1 million on Wednesday.

Thursday's net inflow was $597.5 million, and $428.9 million came in on Friday, closing the week with a strong finish.

Among the Bitcoin ETFs, BlackRock's IBIT led the charge, attracting significant amounts over multiple days.

IBIT recorded $394.1 million in inflows on Monday, $295.6 million on Tuesday, $431.6 million on Thursday, and $393 million on Friday.

This trend has had a positive impact on Bitcoin's price, which increased by 3% over the week, nearing an all-time high.

On the Ethereum side, the ETFs also saw growth, reaching $854.8 million in net inflows over the past week.

Ethereum ETFs had a consistent run since November 22, with no negative days during this period.

The inflows were strong on the first four days of the week, reaching $149.8 million on Monday, $305.7 million on Tuesday, $102 million on Wednesday, and $273.7 million on Thursday.

However, Friday saw a modest $23.6 million.

Despite the substantial inflows, Ethereum’s price decreased by 2.5% over the week, currently trading below $3,900 after briefly surpassing $4,000 the previous Friday.

At the time of reporting, the Ethereum price was $3,954.88, and the Bitcoin price was $104,652.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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