Bitcoin and Ethereum ETFs on a Roll
Bitcoin and Ethereum exchange-traded funds (ETFs) have been on a remarkable inflow streak over the past two weeks. This is according to data from Sosovalue which tracks the performance of ETFs.
On Dec. 11, the total net inflow of bitcoin spot ETFs was $223 million with the net inflow sustained for 10 consecutive days. The bitcoin spot ETF with the largest net inflow on Dec. 11 was Fidelity ETF (FBTC) with a net inflow of $122 million.
Over the 10 day period, bitcoin ETFs recorded a total net inflow of $4.29 billion with total net assets rising to $113.72 billion which represents 5.67% of bitcoin’s market capitalization.
Ethereum ETFs also enjoyed similar inflows in consistency and volume. On Dec. 11, ethereum spot ETFs had a total net inflow of $102 million, marking the 13th day of consecutive net inflows. Blackrock ETF (ETHA) had the highest daily net inflow with $74.1 million.
Ethereum ETFs had $1.95 billion in inflows over the course of the 13-day period and total net assets increased to $13.18 billion, representing 2.86% of ethereum’s market capitalization.
The growing institutional embrace of digital assets has contributed significantly to the sustained interest in ETFs. A recent post on his X handle by Eric Balchunas, senior ETF analyst for Bloomberg showed the contribution of ETFs to issuers’ total revenue.
BTCW ETF led the way with a 95% contribution to Wisdomtree’s revenue, followed by IBIT with a 36.1% contribution to Blackrock’s revenue, and BTCO with a 28.3% contribution to Invesco’s revenue.
The sustained inflows into bitcoin and ethereum ETFs will have institutional and retail investors watching closely, if these inflow streaks translate into sustained price performance and further crypto adoption.
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