Bitcoin ETFs Attract $241M as Ethereum Funds Bleed $138M
Bitcoin ETFs have seen a significant influx of funds, with a total of $241 million flowing in last week, marking the third consecutive week of positive net spot flows. This surge in investor confidence comes after a sentiment shift in September, where traders began to see more positive moves in the market.
The data from SoSoValue shows that the net inflows for Bitcoin ETFs have reached an all-time high of $57.8 billion, with a two-week growth of $2.4 billion. This indicates a bullish turn in the market after previous dry spells that sent prices below multiple support lines.
The largest share of the inflows came from BlackRock's iShares Bitcoin Trust, which contributed $158.2 million, followed by Fidelity Wise Origin Bitcoin Fund at $29.3 million and MSBT at $2.4 million. This portrays the increasing demand for spot Bitcoin ETFs, which have become a popular option for institutional investors to increase their crypto exposure.
On the other hand, Ethereum funds saw a significant outflow of $138 million, taking year-to-date inflows to $1.5 billion. However, Solana and XRP extended their positive runs with $2.4 million and $4.7 million in inflows, respectively.