- U.S. spot bitcoin ETFs saw $479.35M in inflows Monday, with BlackRock leading at $315.19M, extending its 11-day inflow streak.
- Total bitcoin ETF trading volume hit $3B on Monday, boosted by a 4.75% rise in bitcoin price, reaching a new high of $71,200 since June.
- U.S. spot Ethereum ETFs saw $1.14M in outflows, contrasting with bitcoin's growth; Grayscale's ETHE led the exits with $8.44M.
U.S. spot bitcoin exchange-traded funds (ETFs) witnessed an impressive influx of $479.35 million on Monday. This figure marks the largest daily inflow over the past two weeks, underscoring strong investor interest in bitcoin’s market position. The data, compiled by SoSoValue, illustrates a continuing appetite for digital asset investment products, reflecting a notable shift in investment strategies.
BlackRock Leads with 11 Consecutive Days of Positive Flows
Currently, BlackRock’s IBIT, which is the largest U.S. spot bitcoin ETF in terms of net assets, spearheaded the day’s flows, recording $315.19 million in fresh investment. This marks an impressive 11-day streak of net inflows for the fund. BlackRock’s performance indicates consistent investor confidence, with its ongoing positive inflow streak setting a significant benchmark in the ETF sector.
Notably, other funds also experienced inflows. Ark and 21Shares’ ARKB recorded $59.78 million in new investments, while Fidelity’s FBTC gained $44.12 million. Bitwise’s BITB and Grayscale’s BTC added $38.67 million and $21.59 million, respectively. However, seven other spot bitcoin ETFs remained unchanged, reporting zero inflows.
Bitcoin Price Rise Coincides with Increased ETF Activity
Additionally, Bitcoin prices rose by 4.75% over the past 24 hours, reaching $71,200, a new high since June. As digital assets gain value, market participants appear eager to invest in related financial products, leading to an increase in total daily trading volume. These twelve U.S. spot bitcoin ETFs collectively reached a $3 billion trading volume on Monday, up from $2.9 billion the previous Friday.
Moreover, the spike in ETF trading volume and bitcoin price suggests a close correlation between investor sentiment and crypto market trends. Industry analysts point to bitcoin’s price growth as a driving factor in ETF investment, highlighting its potential role in reshaping how investors allocate assets in a fluctuating financial landscape.
Ethereum ETFs Experience Outflows Amid Bitcoin’s Gains
However, while bitcoin ETFs saw significant inflows, U.S. spot Ethereum ETFs experienced net outflows of $1.14 million on Monday. This marks a decrease from Friday’s outflows of $19.16 million, indicating fluctuating interest in Ethereum-backed products.
Notably, Grayscale’s ETHE witnessed $8.44 million in outflows, a move partially offset by inflows of $5.02 million into Fidelity’s FETH and $2.28 million into BlackRock’s ETHA. The remaining six spot ether ETFs did not record any flows.
Therefore, Ethereum’s ETF trading volume also slightly declined, reaching $187.49 million on Monday, down from Friday’s $189.88 million. These contrasting trends underscore differing investor approaches within the cryptocurrency market, as bitcoin maintains a dominant position while Ethereum-backed products reflect mixed investor sentiment.
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