Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Thursday was the best day for the BTC ETFs since January.
ByJordan Lyanchev
The spot exchange-traded funds tracking the largest cryptocurrency attracted almost $1 billion in the past week, despite the $236 million in net outflows registered on September 1.
The Ethereum ETFs were also well in the green. They have marked more inflows than outflows for eight out of the past nine weeks.
BTC ETFs See Another $1B in Inflows
The previous business week ended with a $201.81 million net outflow from the spot BTC ETFs, but the overall performance was quite impressive. The inflows in the other four days offset all the losses on Friday, and the week ended with a net gain of $924.48 million. Thus, the funds built on the previous week’s major inflows of $1.92 billion.
August finished with net inflows of $216.70 million, followed by $236.46 million in net outflows on September 1. Investors shifted their stance in the following three days by attracting $101.15 million on Wednesday and $174.60 million on Friday. Thursday was particularly spectacular, as the funds gained $730.87 million, the highest amount since January.
Thus, the total number for the week was $986.85 million, bringing the cumulative net inflows to $55.62 billion. Recall that this number had plummeted to $51.79 billion in mid-August.
BlackRock’s IBIT remains the undisputed leader in the ETF space, with cumulative net assets exceeding $62.6 billion. Fidelity’s FBTC follows suit with $14.07 million, and Grayscale’s larger fund, GBTC, is next with $10.36 billion.
ETH ETFs in Green, Too
Given their size, the spot Ethereum ETFs have performed even better over the past several weeks. As mentioned above, they have had only one red week since early July, and even that was quite modest, with just $2.26 million in net inflows back in mid-August.
Source: cryptopotato.com