Bitcoin ETF Inflows Surge as Ethereum Products Hit a Standstill
- Barbara StreisandOriginal
- 2024-10-08 21:20:15747browse
The landscape of cryptocurrency exchange-traded funds (ETFs) is showing a stark contrast between Bitcoin and Ethereum products. Recent data reveals a surge in Bitcoin ETF inflows, while Ethereum ETFs struggle to gain traction.
Bitcoin exchange-traded funds (ETFs) saw a surge in inflows on Monday, led by Fidelity's FBTC ETF, while Ethereum ETFs experienced a halt in inflows.
Here's a summary of the key points:
Bitcoin ETFs had a strong showing on Monday, with a collective $235.2 million flowing into the funds. This marks the highest single-day net inflows for Bitcoin ETFs since September 27.
Fidelity's FBTC ETF led the way with $103.7 million in new investments, followed by BlackRock's IBIT ETF, which saw $97.9 million flowing in.
Other Bitcoin ETFs also experienced positive flows, with Bitwise's BITB ETF adding $13.1 million and Ark's ARKB ETF attracting $12.6 million.
In contrast to Bitcoin ETFs, Ethereum ETFs experienced a stall in inflows on Monday. The nine U.S.-based Ethereum ETFs saw zero flows in either direction.
This marks only the second occurrence of such an event since the launch of Ethereum ETFs in July, with the first instance being on August 30.
Bitcoin ETFs have seen a strong performance since their launch, with a collective $18.75 billion flowing into the funds year-to-date.
On the other hand, Ethereum ETFs have struggled to gain traction, with a net outflow of $500 million since becoming available in July.
This disparity in performance highlights the differing dynamics at play in the Bitcoin and Ethereum ETF markets.
The above is the detailed content of Bitcoin ETF Inflows Surge as Ethereum Products Hit a Standstill. For more information, please follow other related articles on the PHP Chinese website!