📈 Bitcoin ETF has a net inflow of more than $3 billion for six consecutive days, and Ethereum ETF has a net inflow of more than $10 million for two days!
According to the latest data from SoSoValue, the US Bitcoin spot ETF achieved a total net inflow of $893 million on October 30, and has achieved a net inflow of funds for six consecutive days.
Among them, BlackRock's ETF IBIT led with a single-day net inflow of $872 million, and its historical total net inflow reached $25.82 billion. Fidelity's ETF FBTC also performed well, with a single-day net inflow of $12.57 million and a historical total net inflow of $10.57 billion.
Although Grayscale's GBTC and BTC Mini Trust ETFs have experienced capital outflows as a whole, overall, the total net asset value of Bitcoin spot ETFs is as high as $72.46 billion, accounting for 5.03% of Bitcoin's total market value, and the historical cumulative net inflow is $24.18 billion.
In terms of Ethereum spot ETFs, the total net inflow on October 30 was $4.36 million, and it has successfully achieved a net inflow of more than $12 million for two consecutive days.
Among them, Fidelity's ETF FETH led with a single-day net inflow of $5.32 million, and a total historical net inflow of nearly $515 million. 21Shares' ETF CETH also performed well, with a single-day net inflow of $2.66 million and a total historical net inflow of $21.81 million.
Although Grayscale's ETH and ETHE Trust ETFs have no inflows/outflows, the total net asset value of Ethereum spot ETFs is $7.34 billion, accounting for 2.27% of Ethereum's market value, and the cumulative net outflow is nearly $494 million.
💬 Conclusion:
The huge net inflows of Bitcoin ETFs for six consecutive days and the inflows of Ethereum ETFs for two consecutive days indicate investors' optimistic expectations for the long-term growth of the cryptocurrency market.
This phenomenon may further promote the mainstreaming of cryptocurrencies, while also bringing more liquidity and stability to the market.
However, market volatility still exists. While enjoying the growth dividend, investors should also remain cautious and keep a keen eye on market dynamics.
What do you think of the inflow of funds into Bitcoin and Ethereum ETFs? Does this mean that the cryptocurrency market is about to usher in a new bull market? Leave your insights on the distinction!
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