Bitcoin

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U.S. spot Bitcoin exchange-traded funds (ETFs) surged on Monday, Nov. 6, reversing a three-day decline with approximately <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">$621.90 million</a> in net inflows, lifting crypto market sentiment. This positive shift occurred despite BlackRock&#39;s iShares Bitcoin Trust (IBIT) facing its largest single-day outflow, recording a $69.11 million net withdrawal. Valkyrie’s BRRR ETF saw a smaller outflow of $2 million. The reversal starkly contrasts IBIT’s robust start earlier this year, when it saw over a billion dollars traded within the first 20 minutes of launch.IBIT Trading SpikeNonetheless, the outflow of the funds and IBIT trading operations increased significantly. According to Bloomberg ETF analyst Eric Balchunas, IBIT trading has been at its peak on Monday. The total trading reached $4.1 billion, higher than some of the biggest stocks in the market, such as Berkshire Hathaway, Netflix, and Visa. According to Balchunas, high volume does not always imply positive inflows that it includes both buying and selling activitiesIn a larger context, Fidelity’s FBTC ETF was the biggest recipient of inflows for the day, with $308.77 million in net purchases. ARK Invest’s ARKB ETF came second with $127 million. Grayscale’s BTC fund also had a good day with net inflows of $109m, this was the second largest single day of inflows since its launch. Bitwise’s BITB ETF had its best day since February, attracting $100.92 million. While Grayscale’s flagship GBTC fund raised $30.91 million, VanEck’s HODL ETF attracted around $17 million of new investments<a href="https://cryptotale.org/bitcoin-etfs-rebound-strong-ethereum-etfs-hit-6-week-high/" rel="noopener noreferrer nofollow">.</a><a href="https://cryptotale.org/bitcoin-etfs-rebound-strong-ethereum-etfs-hit-6-week-high/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin ETFs Rebound Strong; Ethereum ETFs Hit 6-Week High

CryptoTale

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