Significant Investment Flocks to Spot Bitcoin ETFs on Monday

On the first trading day of the week in the United States, spot Bitcoin


$
71,005
ETFs drew a remarkable net inflow of $479.4 million, marking the highest daily influx since October 14. Leading the charge was BlackRock’s IBIT fund, which attracted $315.19 million, continuing its positive streak for eleven consecutive days.
Contents
Interest in Spot Bitcoin ETFs Continues
Spot Ethereum ETFs Experience Outflows
Interest in Spot Bitcoin ETFs Continues
In addition to BlackRock’s IBIT fund, the ARKB fund, a collaboration between Ark and 21Shares, garnered $59.78 million, making it the second most popular ETF. Fidelity’s FBTC fund also saw a noteworthy inflow of $44.12 million. Additionally, Bitwise’s BITB and Grayscale’s Bitcoin ETFs recorded inflows of $38.67 million and $21.59 million, respectively. However, the remaining seven spot Bitcoin ETFs did not register any inflows.


This activity was supported by a total ETF trading volume that reached $3 billion on Monday, which represents an increase compared to Friday’s volume of $2.9 billion. Bitcoin rose by 4.75% in the last 24 hours to reach $71,200, the highest level since June. During this surge, Ethereum


$
2,616
also increased by 5.11%, reaching $2,619.
Spot Ethereum ETFs Experience Outflows
In stark contrast to the record inflows in spot Bitcoin ETFs, spot Ethereum ETFs faced a net outflow of $1.14 million on Monday. This was a decrease from a $19.16 million outflow recorded on Friday. Grayscale’s ETHE product was notable with an outflow of $8.44 million, which was partially offset by $5.02 million in inflows to Fidelity’s FETH product and $2.28 million into BlackRock’s ETHA product.
No other six spot Ethereum ETFs recorded any inflows. The total trading volume for the nine Ethereum ETFs decreased to $187.49 million on Monday, compared to $189.88 million on Friday. The significant interest in spot Bitcoin ETFs indicates increased investor confidence in Bitcoin, as they track movements triggered by volatility.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.