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Cryptocurrency News Articles

Bitcoin (BTC) and Ethereum (ETH) Spot ETFs Experience Surge of Inflows, Marking a Reversal from Four Consecutive Days of Net Outflows

Dec 27, 2024 at 08:14 pm

Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) experienced a surge of inflows on Dec. 26, marking a reversal from four consecutive

Bitcoin (BTC) and Ethereum (ETH) Spot ETFs Experience Surge of Inflows, Marking a Reversal from Four Consecutive Days of Net Outflows

Bitcoin BTC/USD and Ethereum BTC/USD spot exchange-traded funds (ETFs) experienced a surge of inflows on Dec. 26, marking a reversal from four consecutive days of net outflows.

Bitcoin Spot ETFs See $475 Mln Inflows: What HappenedBitcoin spot ETFs collectively saw a net inflow of $475 million, with Fidelity's FBTC leading the charge, securing $254 million in inflows on Monday, as per data.

The ETF experienced heavy inflows last week as well, totaling $180 million. Other Bitcoin spot ETFs also saw inflows, although to a lesser extent compared to FBTC.

Pacer's SPOT ETF (SPCB) saw a net inflow of $82.5 million, iShares' Ibtc ETF (IBTC) saw inflows to the tune of $63.8 million, and VanEck's Xbtc ETF (Xbtc) saw inflows of $51.3 million.

Bitcoin ETFs YTD Flows (in $ millions)FBTC 2,188.2

SPCB 1,279.8

IBTC 977.5

Xbtc 868.4

Bito 790.6

Total YTD Flows: 7,166.6

Bitcoin ETFs began trading in April 2024, and they have seen a total net inflow of $7,166.6 million year-to-date.

The ETFs track the performance of Bitcoin on a spot basis, providing investors with an easy way to gain exposure to the world's largest digital asset.

The performance of the ETFs is closely linked to the price movements of Bitcoin, which experienced a strong rally in 2024, reaching new all-time highs.

See More: Best Cryptocurrency ETFs

Ethereum Spot ETFs See $117 Mln Inflows: Deep DiveCollectively, Ethereum ETFs recorded a total net inflow of $117 million on Monday, with Fidelity's FETH ETF leading the inflows, securing $82.9 million.

Other Ethereum spot ETFs also saw inflows, with BlackRock's ETHA ETF recording inflows of $28.1 million. State Street's Ieth ETF (Ieth) saw inflows to the tune of $5.1 million.

Ethereum ETFs YTD Flows (in $ millions)FETH 1,134.8

Etha 469.3

Ieth 245.2

Total YTD Flows: 1,900.8

Ethereum spot ETFs began trading in December 2024, and they have seen a total net inflow of $1,900.8 million year-to-date.

The ETFs track the performance of Ethereum on a spot basis, providing investors with an easy way to gain exposure to the second-largest digital asset.

The performance of the ETFs is closely linked to the price movements of Ethereum, which also experienced a strong rally in 2024, reaching new all-time highs.

Crypto Market Overview, Expert CommentaryThe turn of events followed a tumultuous week of net outflows, marking a renewed interest in these digital assets from investors.

"As we conclude the year 2024 on a remarkable note in the crypto space, we are pleased to see that this year has been transformative for the industry as a whole," said Vishal Sacheendran, Head of Regional Markets at Binance.

"2024 showed significant growth and institutional interest, further emboldened by the legalization of spot Bitcoin ETFs in the United States, highlighting the industry’s resilience."

He added that 2024 saw significant growth and institutional interest, further emboldened by the legalization of spot Bitcoin ETFs in the United States, highlighting the industry's resilience.

Also Read: Are Donald Trump’s Ambitious Bitcoin Goals Feasible?

Highlighting the increasing mainstream adoption of crypto, Rahul Pagidipati, CEO of ZebPay, pointed out Bitcoin's breaking of its previous all time high.

"2024 was a year of tremendous growth and crucial milestones for the crypto industry, driven by groundbreaking events, regulatory milestones, and positive market dynamics," said Pagidipati.

"Bitcoin reaching $100,000 was a major psychological milestone for many, adding another layer of significance to this eventful year."

Moreover, Arthur Azizov, CEO at B2BINPAY, emphasized Bitcoin's dominance for much of the market rally.

"The fact that Bitcoin reached $100,000 was a major psychological milestone for many, adding another layer of significance to this eventful year,” stated Azizov, also noting the potential for a shift in dominance towards Ethereum and other altcoins.

The rebound in ETF inflows

News source:www.benzinga.com

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Other articles published on Dec 28, 2024