As a seasoned crypto investor with a decade of experience navigating market highs and lows, I’ve learned to appreciate the ebb and flow of this dynamic industry. After reading about the recent influx of institutional investments into US Bitcoin spot ETFs, I can’t help but feel a sense of validation for my early adoption of this groundbreaking technology.
Institutional investors poured $39 million into Bitcoin ETFs in the U.S. on September 12, choosing this route to invest in Bitcoin without having to hold the cryptocurrency directly. Here are some key details about the current state of Bitcoin:
Over the past day, this surge of funds arrives when Bitcoin has settled near the $58,000 level, rebounding from a substantial dip that depleted numerous crypto investors’ holdings.
ARKB Leads with Significant Inflows
As a researcher delving into investment trends, I find it noteworthy to highlight that data from SoSoValue indicates ARKB, a fund jointly managed by Ark Invest and 21Shares, garnered the highest level of interest, with an impressive $18.34 million in daily inflows.
Starting from September 12th, the cumulative net investment into the product has surpassed $2.25 billion. This fund was one of the Bitcoin ETFs that recently ended a sequence of eight consecutive days of withdrawals, experiencing an overall influx of approximately $117 million. On that particular day, ARKB alone attracted $12.68 million.
ARKB’s outstanding performance was nearly matched by Fidelity’s FBTC, recording inflows of approximately $11.47 million. This brings its overall historical net inflow to a substantial $9.54 billion. Notably, Grayscale’s Bitcoin Mini Trust and VanEck’s HODL also made significant contributions, with the former adding $5.18 million and the latter $4.95 million to their totals.
Although Grayscale’s GBTC fund generally shows a positive trajectory, it faced significant withdrawals amounting to $6.51 million last Thursday. This latest withdrawal brings its total net withdrawal to an astounding $20.05 billion.
In the U.S., several Bitcoin ETFs like BlackRock’s IBIT, Valkyrie Bitcoin Fund (BRRR), Invesco Galaxy Bitcoin ETF (BTCO), Hashdex Bitcoin ETF (DEFI), and WisdomTree Bitcoin Trust (BTCW) have seen both inflows and outflows. However, despite being the largest in terms of total value, BlackRock’s IBIT has not received any new investments since August 27.
Bitcoin ETFs Record $896.92M in Trading Volume
On Thursday, there was a significant change in direction for Bitcoin ETF investments compared to the downward patterns of the previous day. It seems that investors are taking advantage of Bitcoin’s relatively steady pricing near $58,000.
As reported by SoSoValue, the total trading volume for all 12 Bitcoin ETFs in the U.S. was approximately $896.92 million on that specific day. Interestingly, this amount is lower compared to the $1.27 billion traded the previous day.
Starting from September 12th, the combined net investments into all Bitcoin Exchange-Traded Funds (ETFs) in the U.S. have reached an impressive $17.03 billion. This continuous flow of capital suggests that investors are growing more confident in considering Bitcoin as a reliable asset class amidst global economic turmoil and unpredictability.
Ethereum ETFs Face Continued Outflows
Currently, Bitcoin ETFs are experiencing a surge in popularity among investors, while Ethereum ETFs encounter challenges. On Thursday alone, Ethereum spot ETFs experienced net outflows of approximately $20.14 million, with the majority originating from Grayscale’s ETHE fund.
For two days straight this week, there have been withdrawals from investment funds focused on Ethereum. The total withdrawal amount for all Ethereum-related products has now surpassed $582.74 million.
Regardless of the current fluctuations, Ethereum (ETH) maintains its significant role within the cryptocurrency market. However, it seems that the recent market instability has caused some uncertainty among investors regarding this digital asset. Here are its key details:
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2024-09-13 11:54