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Cryptocurrency News Articles
U.S.-Listed Spot Bitcoin ETFs Extend Inflows Streak to a Third Day, Pushing Weekly Total to Almost a Billion
Oct 26, 2024 at 05:01 pm
The development came amid BTC's bullish patterns, which saw the crypto asset rally toward the $70,000 level.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) continued their positive streak for a third day on Friday, pushing their total weekly inflows to nearly a billion.
The development came amidst BTC’s bullish patterns, which saw the crypto-asset rally towards the $70,000 level. While the Bitcoin price pared some weekly gains to trade at $67,089 at the time of writing, the original cryptocurrency broadly outperformed the broader digital asset market.
CoinMarketCap data showed that BTC was down 1.81% in the last seven days, whereas Ether, XRP, Toncoin, and Cardano dropped over 5% during the same period.
Bitcoin ETF Weekly Flows
According to SoSoValue data, spot Bitcoin ETFs in the U.S. added $402.08 million on Friday after pulling a combined $380.42 million in the previous two days. The extended positive streak brought the total weekly inflows to $997.70 million, highlighting sustained investor interest in the funds following their record $2.13 billion inflows last week.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, led the pack with $1.146 billion in weekly inflows, followed by Fidelity’s FBTC and Grayscale’s BTC at $71.7 million and $10.63 million, respectively.
Invesco’s BTCO, Franklin Templeton’s EZBC, Valkyrie’s BRRR, and WisdomTree’s BTCW reported zero weekly flows, whereas the remaining funds clocked outflows in the millions amidst mild inflows. Notably, Ark Invest’s ARKB bled $239.8 million.
In contrast to Bitcoin, spot Ether ETFs bled $24.45 million this week despite sustaining a three-day positive flow between October 22 and October 24.
Read about the SEC’s plan for crypto in 2025:
SEC Includes Crypto on Its List of 2025 Exam Priorities
Stay updated on how Solana has overtaken Ethereum in economic value:
Solana Overtakes Ethereum in Economic Value Amid Memecoin Surge
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