Spot Bitcoin ETFs in the United States saw a surge in net inflows on the first trading day of the week. The inflow of $479.4 million was the highest daily influx since October 14. BlackRock’s IBIT fund led the charge, attracting $315.19 million and maintaining a positive streak for eleven consecutive days. Other popular ETFs included ARKB, a collaboration between Ark and 21Shares, which garnered $59.78 million, and Fidelity’s FBTC fund, which saw an inflow of $44.12 million. Bitwise’s BITB and Grayscale’s Bitcoin ETFs also recorded significant inflows of $38.67 million and $21.59 million respectively. However, the remaining seven spot Bitcoin ETFs did not experience any inflows.
This increased activity in spot Bitcoin ETFs was accompanied by a total trading volume of $3 billion on Monday, surpassing Friday’s volume of $2.9 billion. Bitcoin itself rose by 4.75% in the last 24 hours, reaching $71,200, its highest level since June. Ethereum also experienced a 5.11% increase, reaching $2,619.
In contrast to the record inflows in spot Bitcoin ETFs, spot Ethereum ETFs faced a net outflow of $1.14 million on Monday, a decrease from the $19.16 million outflow recorded on Friday. Grayscale’s ETHE product was notable with an outflow of $8.44 million, partially offset by $5.02 million in inflows to Fidelity’s FETH product and $2.28 million into BlackRock’s ETHA product. The remaining six spot Ethereum ETFs did not see any inflows. The total trading volume for the nine Ethereum ETFs decreased to $187.49 million on Monday, compared to $189.88 million on Friday. The significant interest in spot Bitcoin ETFs indicates increased investor confidence in Bitcoin, as these ETFs track its movements driven by volatility.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.