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Spot Bitcoin ETFs experience inflows for second day

Spot Bitcoin ETFs experience inflows for second day

GrafaGrafa2024/09/12 02:05
By:Mahathir Bayena

Spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) saw a second consecutive day of inflows, accumulating nearly $117 million on Tuesday.

Ether (CRYPTO:ETH) ETFs also showed positive momentum, with inflows reaching $11.44 million during the same trading session.

According to data from sosovalue.xyz, the 12 spot Bitcoin ETFs collectively gained $116.96 million in inflows.

Fidelity's FBTC led the inflows, securing $63.16 million, followed by Grayscale’s Mini Bitcoin Trust with $41.13 million.

Ark Invest and 21Shares’ ARKB also contributed with $12.68 million in inflows.

The remaining nine funds recorded no gains or losses for the day.

The inflows brought the total net additions for spot Bitcoin ETFs since January 11 to $17.04 billion.

These 12 funds now hold a combined $52.2 billion in Bitcoin, which constitutes 4.59% of the cryptocurrency's total market value.

Ether ETFs also saw gains, with nine funds receiving a total of $11.44 million on Tuesday.

Fidelity’s FETH led the Ether ETFs, attracting $7.13 million, while Blackrock’s ETHA followed with $4.31 million.

Despite these gains, Ether ETFs have faced net outflows of $562.06 million since July 23, which is considerably larger than the recent inflows.

Currently, the nine Ether ETFs have a total holding of $6.53 billion in ETH, accounting for 2.28% of Ethereum's market capitalization.

On Tuesday, trading volume for Bitcoin ETFs reached $712.27 million, while Ethereum-based ETFs saw $102.87 million in trades.

At the time of reporting, the Bitcoin (BTC) price was $57,772.27.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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