Cumulative steady inflows over a 13-day period for Bitcoin and Ethereum ETFs indicate strong demand.
Bitcoin and Ethereum ETFs are on the rise
Bitcoin and Ethereum exchange-traded funds (ETFs) have been on an impressive inflow streak over the past two weeks, according to data from Sosovalue, which tracks ETF performance.
On December 11, Bitcoin spot ETFs saw a total net inflow of $223 million, with inflows continuing for 10 consecutive days. The Bitcoin spot ETF with the largest net inflow on December 11 was the Fidelity ETF (FBTC), with net inflows of $122 million.
Over the 10-day period, Bitcoin ETFs saw total net inflows of $4.29 billion, with total net assets increasing to $113.72 billion, representing 5.67% of Bitcoin's market cap.
Ethereum ETFs also saw similarly strong and large inflows. On December 11, Ethereum spot ETFs saw a total net inflow of $102 million, marking the 13th consecutive day of net inflows. Blackrock ETF (ETHA) saw the largest daily net inflow at $74.1 million.
Ethereum ETFs saw a net inflow of $1.95 billion over the 13-day period, with total net assets increasing to $13.18 billion, representing 2.86% of Ethereum’s market cap.
Growing institutional acceptance of digital assets has contributed significantly to the sustained interest in ETFs. A recent post on his X account by Eric Balchunas, a senior ETF analyst for Bloomberg, showed the contribution of ETFs to issuers’ overall returns.
The BTCW ETF took the top spot with a 95% contribution to Wisdomtree's return, followed by IBIT with a 36.1% contribution to Blackrock's return, and BTCO with a 28.3% contribution to Invesco's return.
The steady inflows into Bitcoin and Ethereum ETFs will have institutional and retail investors watching closely to see if these series of inflows will lead to sustained price gains and further adoption of cryptocurrencies.
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The article is taken from the original Bitcoin New website