U.S. spot Bitcoin exchange-traded funds recorded positive inflows for the eighth straight day on Monday, with a total daily net inflow of $202.51 million. The 12 Bitcoin funds have attracted $756 million over the past eight trading days.
According to SoSoValue data, the largest net inflow on Monday came from BlackRock’s IBIT fund, which took in $224.06 million, the largest daily inflow since July 22. Two other funds had smaller net inflows: Franklin Templeton’s EZBC recorded $5.52 million, while WisdomTree’s BTCW recorded $5 million.
Bitwise’s BITB recorded the largest net outflow on Monday, with $16.61 million, followed by Fidelity’s FBTC with $8.33 million. VanEck’s HODL also saw $7.18 million outflows from the fund. Six other funds, including Grayscale’s GBTC, saw no inflows on the day.
The spot Bitcoin fund’s volumes have returned to normal levels, falling from $3.12 billion last Friday to $1.2 billion yesterday. The fund has accumulated a total of $18.08 billion in net inflows since its launch in January.
The ether continues to experience outflows
On the other hand, US spot ether funds showed the opposite trend, falling for the 8th consecutive day.
On Monday, Ether funds saw a net outflow of $13.23 million, led by Grayscale’s ETHE with $9.52 million. Fidelity’s FETH recorded an outflow of $2.69 million, while Franklin Templeton reported a net outflow of $1.02 million. Spot Ether ETFs recorded no positive inflows on Monday.
Spot ether funds recorded a volume of $125.73 million on Monday. They accumulated a total net outflow of $477.88 million.
According to The Block’s price page, Bitcoin was down 1.54% over the last 24 hours, trading at $63,077, while Ether was down 2.26%, trading at $2,689.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.