It’s another massive win for U.S. spot Bitcoin ETFs as the inflow streak continues strong. Thursday marked a new milestone, with net inflows hitting a whopping $365.57 million, extending the bull run to a sixth consecutive day, according to data from SoSoValue.
Ark Invest and 21Shares Lead the Pack
The dynamic duo of Ark Invest and 21Shares once again took the spotlight, with their ARKB ETF raking in $113.82 million in inflows. BlackRock’s IBIT wasn’t far behind, pulling in $93.38 million, followed by Fidelity’s FBTC with $74 million in net inflows. Notable mentions include Bitwise’s BITB, which saw $50.38 million come into the fund, and VanEck’s HODL adding $22.10 million to its balance.
Meanwhile, smaller funds like Valkyrie, Invesco, Franklin Templeton, and Grayscale’s Bitcoin Mini Trust also enjoyed positive flows. However, Grayscale’s GBTC ETF was the sole outlier, witnessing $7.73 million in outflows.
Volume Hits Multi-Billion Levels
Thursday’s total trade volume among the 12 Bitcoin-focused ETFs hit $2.43 billion, marking the highest level since late August. This bullish momentum pushes the cumulative net inflows in U.S. spot Bitcoin ETFs to an impressive $18.31 billion since their launch.
A Bullish Macro Environment
The surge in inflows mirrors a broader bullish trend in global risk markets. U.S. equities are hitting new all-time highs for the third time this week, driven by robust stimulus measures from China aimed at reviving its lagging economy.
“We’re seeing risk appetite surge across the board, reminiscent of the easy-money days during the QE era,” said Augustine Fan, Head of Insights at SOFA.org. “Investors are in ‘buy the dip’ mode, with little downside risk in sight.”
Ethereum ETFs: Back to Outflows
While Bitcoin ETFs are riding high, spot Ethereum ETFs are showing signs of weakness. Grayscale’s ETHE saw $36 million in net outflows on Thursday, despite some funds reporting positive inflows. Fidelity’s FETH brought in $15.92 million, BlackRock’s ETHA collected $14.85 million, and Invesco’s QETH saw $2 million in inflows. However, the overall sentiment remains cautious, with total net outflows for Ethereum ETFs sitting at $581.61 million since their launch.
Bitcoin and Ether Price Rally
Bitcoin continues its upward trajectory, climbing 2.9% in the last 24 hours to reach $65,330.96, its highest point since late July. Ether followed suit, rising 1.8% to $2,648.
Fan believes this crypto rally has more staying power than previous ones. “The sentiment has shifted. Investors are seeing opportunities rather than risks, and with few negative catalysts on the horizon, the rally could continue for some time.”
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