Spot Bitcoin ETF- Positive Flow Trends in Bitcoin ETFs
Spot Bitcoin ETF– On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced a notable daily net inflow of $39.02 million, reversing the negative flows from the previous day.
Top Performers and Inflows
The largest net inflows were recorded by Ark and 21Shares’ ARKB, which attracted $18.34 million. Fidelity’s FBTC followed with $11.47 million, and Grayscale’s Bitcoin Mini Trust saw $5.18 million in inflows. Other funds, including VanEck’s HODL and Franklin Templeton’s bitcoin fund, had smaller but positive inflows of $4.95 million and $3.38 million, respectively. Bitwise’s BITB also reported $2.22 million in inflows.
Outflows from Grayscale’s GBTC
In contrast, Grayscale’s GBTC experienced outflows, with $6.51 million exiting the fund. The remaining five bitcoin ETFs, including BlackRock’s IBIT, recorded no flows on Thursday. Notably, IBIT, the largest spot bitcoin ETF by net assets, has not seen net inflows since August 27.
Trading Volume and Cumulative Inflows
The total daily trading volume for the 12 bitcoin ETFs dropped to $896.92 million on Thursday, down from $1.27 billion the day before. Since their launch in January, these bitcoin funds have accumulated $17.03 billion in net inflows.
Ethereum ETFs Face Continued Outflows
Grayscale’s ETHE Leads Outflows
Spot Ethereum ETFs in the U.S. reported net outflows of $20.14 million, marking their second consecutive day of negative flows. All outflows were attributed to Grayscale’s ETHE, while the remaining eight ether funds had no flow activity.
Decrease in Trading Volume
The total daily trading volume for Ethereum ETFs was $106.14 million on Thursday, down from $126.22 million the previous day. Cumulative net outflows for ether ETFs reached $582.74 million.
Bitcoin Price and Market Outlook
Bitcoin Price Update
Bitcoin’s price remains around the $58,000 level, recently trading at approximately $57,916. After a drop below $53,000 due to weak non-farm payroll data, the cryptocurrency has recovered, supported by recent political debates and consumer price data releases.
Upcoming Federal Reserve Meeting
Investors are awaiting next week’s Federal Open Market Committee meeting, with CME Group’s FedWatch Tool indicating a 57% chance of a 25 basis-point rate cut and a 43% chance of a 50 basis-point decrease.
FAQs
What were the net inflows for Bitcoin ETFs on Thursday?
On Thursday, U.S. spot Bitcoin ETFs saw a daily net inflow of $39.02 million, recovering from negative flows reported the previous day.
Which Bitcoin ETFs had the highest net inflows?
The largest net inflows were seen in Ark and 21Shares’ ARKB with $18.34 million, followed by Fidelity’s FBTC with $11.47 million. Grayscale’s Bitcoin Mini Trust also saw notable inflows of $5.18 million.
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