{"id":1169,"date":"2024-10-15T17:02:18","date_gmt":"2024-10-15T17:02:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1169"},"modified":"2024-10-15T17:02:18","modified_gmt":"2024-10-15T17:02:18","slug":"crypto-comeback-bitcoin-etfs-attract-556-million-in-fresh-inflows","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1169","title":{"rendered":"Crypto Comeback: Bitcoin ETFs Attract $556 Million In Fresh Inflows"},"content":{"rendered":"
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Spot Bitcoin US exchange-traded funds (ETFs) are roaring today, recording the highest inflow in four months as a total sum of $556 million streamed into 12 funds. Coincidentally, by the time the inflow was received, Bitcoin was rebounding as it touched a two-week high at $66,500.<\/p>\n

The highest single-day flow, at $239 million, came in through Farside (FBTC)<\/a>, the highest since June. Others performing well include Bitwise (BITB) at $100 million and BlackRock (IBIT) which managed to attract new investors to the rake in $79.51 million.<\/p>\n

Increased Activity Across Funds<\/h2>\n

Several funds posted inflows<\/a> as the market continued to rally. The shares of ARK Invest and 21Shares (ARKB) stood at nearly $70 million, while Grayscale (GBTC), the bitcoin trust, recorded its first inflow since September at a little over $37 million even if the trust struggled with massive cumulative outflows of $20 billion since its inception.<\/p>\n

\"\"<\/p>\n

Other small funds that posted inflows included: HODL, EZBC, BTCO, Grayscale BTC Mini Trust, and Valkyrie whose inflows totaled over $29 million.<\/p>\n

Their growing action also pushed the trading volumes of these 12 Bitcoin ETFs<\/a> up to $2.61 billion. Analysts project that this new rise will push such funds further by using the net inflows achieved in the past 10 months which is currently at $19.36 billion. This could also be due to Bitcoin ETFs also taking more than gold-based products, reaping $1.5 billion in net inflows this year.<\/p>\n

<\/p>\n

Ethereum ETFs Lag Behind Bitcoin<\/h2>\n

Bitcoin ETFs rose to the highest degree as compared to Ethereum ETFs,<\/a> which responded relatively better. Net inflows into Ethereum ETFs stood at $17 million led by BlackRock (ETHA) with $14 million.<\/p>\n

\"\"<\/p>\n

Other funds in Fidelity (FETH), Invesco (QETH), and 21Shares (CETH) received flows ranging from $393,690 to $1.30 million. Trading volumes for Ethereum ETFs also rose to $210 million from $143.54 million the previous day. In fact, since their launch in July, Ethereum ETFs have seen net outflows of $542 million.<\/p>\n

The total cryptocurrency market also started to recover from its losses with Bitcoin trading at $65,268. Meanwhile, Ethereum increased by almost 3% to hit the $2,594 level by the end of the day.<\/p>\n

As Nate Geraci, President of ETF Store, said, this day was a \u201cmonster day\u201d for spot Bitcoin ETFs, as the crypto investment product continues to gain mass appeal ahead of traditional and safer assets, such as gold.<\/p>\n

Featured image from Global Finance Magazine, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spot Bitcoin US exchange-traded funds (ETFs) are roaring today, recording the highest inflow in four months as a total sum of $556 million streamed into 12 funds. Coincidentally, by the time the inflow was received, Bitcoin was rebounding as it touched a two-week high at $66,500. The highest single-day flow, at $239 million, came in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1169","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1169"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1169\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}