Bitcoin ETF Inflows Surge as Price Hits $65,330

Bitcoin ETFs Surge as U.S. Markets Hit New Highs

Bitcoin ETF – On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) recorded net inflows of $365.57 million, the largest single-day inflow since late July. This marks the sixth consecutive day of positive inflows, according to data from Sosolvalue.

ARK Invest and 21Shares Lead the Way

The bulk of the inflows came from ARK Invest and 21Shares’ ARKB, which saw $113.82 million in net positive flows. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, followed closely with $93.38 million in inflows, while Fidelity’s FBTC added $74 million.

Other funds also saw significant inflows, including Bitwise’s BITB with $50.38 million and VanEck’s HODL, which recorded $22.10 million. Smaller inflows were observed across funds from Valkyrie, Invesco, Franklin Templeton, and Grayscale’s Bitcoin Mini Trust.

Despite the positive inflows, Grayscale’s GBTC saw a net outflow of $7.73 million, the only fund to experience a decline on Thursday.

Largest Trade Volume Since August

Thursday also marked a high in trade volume for the 12 spot bitcoin ETFs, with total volume reaching $2.43 billion, the largest since August 23. Cumulative net inflows since the launch of spot bitcoin ETFs have now reached $18.31 billion.

Augustine Fan, Head of Insights at SOFA.org, commented on the inflows, stating, “It’s a green light for global risk markets as U.S. equities hit new all-time highs for the third time this week, supported by rapid stimulus measures aimed at reviving the struggling Chinese economy.” Fan added that macro analysts are increasingly bullish on risk assets, drawing comparisons to the “easy-money” period during the quantitative easing (QE) era.

Ether ETFs Return to Outflows

While bitcoin ETFs saw robust inflows, spot Ethereum ETFs experienced a net outflow on Thursday, totaling around $675,450. This follows a brief period of net inflows across six funds. Grayscale’s ETHE posted the largest outflow, with $36 million leaving the fund, according to Sosolvalue.

In contrast, Fidelity’s FETH recorded net inflows of $15.92 million, while BlackRock’s ETHA added $14.85 million. Invesco’s QETH saw $2 million in inflows, and smaller positive flows were recorded for funds from Bitwise, VanEck, and 21Shares, each under $1 million.

Ether ETFs saw a total trade volume of $257.40 million on Thursday, more than double the previous day’s volume of $124.18 million. Since their debut in July, ether ETFs have posted cumulative net outflows of $581.61 million.

Bitcoin Price Continues to Rise

Bitcoin’s price surged 2.9% in the past 24 hours, reaching $65,330.96, its highest point since late July. Meanwhile, ether rose 1.8% to $2,648, according to The Block’s price page.

Fan from SOFA.org noted that this current crypto rally has more “staying power” than previous ones. “Investor sentiment seems to have shifted to a ‘buy the dip’ mentality, with the risk-reward balance now favoring a continued rally. Currently, there are no clear downside catalysts on the horizon,” Fan explained.

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