The US spot Bitcoin ETF produced the best performance in the past week recording $2.1 billion in revenue. Meanwhile, their Ethereum counterparts finally turned the corner registering their third positive weekly entry since their first trade in July.
Spot Bitcoin ETFs Record Highest Daily Income Since June
After returning to positive net flows in the second week of October, the Bitcoin ETFs space attracted huge levels of investment this past week which started with inflows worth $555.86 million recorded on Monday, October 14, representing the highest daily inflows seen by these. ETFs as of June 4.
According to data from SoSoValue, these Bitcoin ETFs received positive investments of similar sizes throughout the week culminating in a total inflow of $2.18 billion, which is the fourth highest weekly net inflow registered by these investment funds since their launch in January.
In these reported figures, more than 1.14 billion were invested in BlackRock’s IBIT, which maintains its position as the largest Bitcoin ETF with a net inflow of $22.84 billion. Unsurprisingly, Fidelity’s FBTC came in a distant second with revenue valued at $318.82 million.
Bitwise’s BITB also attracted $149.81 million worth of investment while Grayscale’s GBTC broke a 21-week streak of outflows, recording its biggest weekly inflow of $91.47 million. All other Bitcoin ETFs except Hashdex’s DEFI also experienced significant levels of revenue although less than $50 million.
Currently, the total net asset value of Bitcoin ETFs has reached $20.98 billion. Meanwhile, these investment funds hold total assets of $66.11 billion, which is 4.89% of Bitcoin’s market cap. These statistics achieved within ten months of trading show the great potential of these ETFs in driving the adoption of Bitcoin.
Spot Ethereum ETFs Return to Positive Netflows
Over the past week, Ethereum ETFs have also recorded a positive weekly inflow of $78.98 million. Although this number seems very small compared to that of Bitcoin ETFs, it represents the third positive net flow in thirteen trading weeks.
Similar to its Bitcoin counterpart, BlackRock’s ETHA accounted for the number of reported transactions with an inflow of $49.76 million while Fidelity’s FETH came in second, attracting investments worth $43.52 million. spoa Ethereum ETFs continue to report negative net outflows of $479.99 million while holding 2.31% of the Ethereum market cap represented at $7.35 billion ETH.
At the time of writing, Ethereum is trading at $2,649 with a gain of 0.49% over the previous day. Meanwhile, Bitcoin is hovering around $68,168 following a slight decline in the past 24 hours.
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