More than $1 billion in net inflows into Bitcoin spot ETFs have occurred in the past week. This is the highest level recorded since July. Experts say that this movement in ETFs reflects the increasing interest of institutional investors in cryptocurrencies.
The constant outflows seen in Ethereum ETFs have also reversed. BlackRock’s Ethereum ETF is the leader with an inflow of $94.9 million, followed by Fidelity ETF with $64.9 million. Although Grayscale’s ETF experienced an outflow of $127 million, this positive development shows that interest in other cryptocurrencies is increasing.
Pi42 CEO Avinash Shekhar said the increasing inflows showed that investor confidence was reviving after the Fed started cutting interest rates. He also emphasized that interest in Ethereum ETFs was also increasing.
Bitcoin, the cryptocurrency with the highest market value, is trading at $64,100 on the last Monday of September. BTC, which tested $66,500 on Friday evening, failed to surpass this level. Bitcoin, which started the new week with some sellers, is promising for investors after a long break above $60,000.
Ethereum has ended a five-week negative streak. According to CoinShares data, digital asset investment products saw a total inflow of $1.2 billion for the third week in a row. This trend is due to positive price momentum due to dovish monetary policy expectations in the US and a 6.2% increase in assets under management.
Bitcoin inflows stood out with $1.07 billion, while Ethereum broke its five-week decline streak with an inflow of $86.9 million. The situation is mixed for altcoins; Litecoin and XRP received inflows of $2 million and $0.8 million, respectively, while Binance Coin and Stacks experienced outflows of $1.2 million and $0.9 million, respectively. Multi-asset cryptocurrency investment products attracted $65 million in investment in the last week of September. Solana, on the other hand, was negatively differentiated from the others with -$4.8 billion.
