Bitcoin ($BTC) continued its upward trend last night, briefly climbing above $79,300. However, this was short-lived, and Bitcoin failed in its attempt to break the critical $80,000 resistance level. The $BTC price retreated to around $77,800.
While the $BTC price continues its volatile course, the positive sentiment and inflows in US spot ETFs continue.
According to Farside Investors data, US spot Bitcoin ETFs saw net inflows for the seventh consecutive day. On Wednesday, net inflows of $336 million were recorded in ETFs.
BlackRock’s IBIT fund led Bitcoin ETF inflows with $246.9 million, followed by Fidelity’s FBTC fund with $56.7 million.
Bitwise’s BITB fund recorded inflows of $15.4 million, Ark Invest’s ARKB fund $11.9 million, Morgan Stanley’s MSBT fund, launched in recent weeks, $11.3 million, Wisdom Tree’s BTCW fund $6.3 million, and VanEck’s HODL fund $3.9 million.
In contrast, Grayscale’s GBTC fund was the only fund to experience an exit, with $16.6 million.
Lastly, Invesco’s BTCO fund, Franklin Templeton’s EZBC fund, and Valkyre’s BRRR fund all recorded 0 flows.
Inflows Continue into Ethereum ETFs!
Ethereum ($ETH) ETFs also saw net inflows. According to Farside Investors data, spot Ethereum ETFs experienced net inflows for the 10th consecutive day, totaling $96.4 million.
According to the data, BlackRock’s ETHA fund led the inflows with $53.6 million. It was followed by Fidelity’s FETH fund with $40.6 million and Grayscale’s Mini Ethereum ($ETH) fund with $11.4 million.
In response, Grayscale’s Ethereum Trust (ETHE) fund recorded an outflow of $9.2 million.
Lastly, BlackRock’s ETHB fund; Bitwise’s ETHW fund; 21Shares’ TETH fund; VanEck’s ETHV fund; Invesco’s QETH fund; and Franklin Templeton’s EZET fund all recorded 0 flows.
What’s the Situation with Solana and $XRP ETFs?
Demand for altcoin ETFs continued, just as it did for Bitcoin and Ethereum ETFs.
Accordingly, $XRP spot ETFs saw inflows of $2.4 million, while Solana (SOL) spot ETFs recorded zero inflows yesterday.
*This is not investment advice.