💸 Bitcoin spot ETF has seen continuous net inflows this week, and Ethereum spot ETF has also achieved three consecutive days of net inflows
The Bitcoin spot ETF market continues to maintain the momentum of capital inflows, with a net inflow of nearly $274 million yesterday, which is the sixth consecutive day of net inflows.
In this trend, Ark Invest and 21Shares' ETF ARKB led with a single-day net inflow of nearly $110 million, while BlackRock's ETF IBIT followed closely with a net inflow of $70.41 million.
Currently, the total net asset value of Bitcoin spot ETF is $66.11 billion, and its ETF net asset ratio has reached 4.89%, with the historical cumulative net inflow increasing to $20.94 billion.
At the same time, Ethereum spot ETF also ushered in capital inflows, with a net inflow of $1.91 million yesterday, and successfully achieved three consecutive days of net inflows. Among them, Bitwise ETF ETHW led with the same amount, while other Ethereum ETFs had zero net inflows yesterday.
Currently, the total net asset value of Ethereum spot ETF is US$7.35 billion, the ETF net asset ratio (market value to total Ethereum market value) is 2.31%, and the historical cumulative net outflow is nearly US$480 million.
These data show that investors' interest in cryptocurrency ETFs remains high this week, especially Bitcoin and Ethereum related products. The inflow and outflow of cryptocurrency ETF funds next week is also a direction we need to focus on.
🗣️ Viewpoint:
The cryptocurrency ETF market has performed strongly this week and has shown no signs of weakening. On the other hand, the open interest in the Bitcoin contract market has exceeded US$40 billion, setting a record high. The BTC 24-hour long-short ratio is 1.021, and the market continues to be bullish.
If the inflow of funds into cryptocurrency ETFs remains strong next week, the Bitcoin market may continue to maintain a high upward trend. But from the daily chart, Bitcoin RSI is currently in the overbought zone. However, as for whether the crypto market will see a sharp decline over the weekend and next week, we still need to wait for the further performance of the market to reveal the answer.
💬 Do you think this upward momentum will continue? Will Bitcoin continue to hover at a high level next week, or will it break through 69,000 and challenge the key pressure level of 70,000? Leave your opinion in the comment section!
