Ethereum

Bitcoin

Gary

Spot

Spot Bitcoin exchange-traded funds in the U.S. have experienced significantly lower inflows compared to their Ethereum counterparts during the last four trading days, from Nov. 22 to the day before Thanksgiving.
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the 12 spot Bitcoin ETFs recorded $32.2 million in inflows over the last four trading days between Nov. 22 and Nov. 27, which stood significantly lower than the $224.8 million inflows recorded by the nine spot Ethereum ETFs over the same period.
The interesting scenario comes as Bitcoin saw a 2.7% drop in its price over the last 7 days compared to a 5.3% Ether price rally over the same period.&nbsp;
Depending on how trading unfolds on Nov. 29, U.S. Ether funds might outpace spot Bitcoin ETFs in weekly net inflows for the first time.
Despite the recent slowdown in inflows, spot Bitcoin ETFs have still achieved a record-breaking month, with over $6.2 billion in net inflows for November, surpassing the previous record of $6.2 billion set in February, market commentator Nate Geraci noted in an X <a href="https://x.com/NateGeraci/status/1862329951849980042" target="_blank" rel="noopener noreferrer nofollow">post</a>.&nbsp;
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/cardanos-hoskinson-believe-bitcoin-will-surpass-250000/"> Cardano’s Hoskinson believe Bitcoin will surpass $250,000 </a>
Notably, the BTC ETFs recorded their highest inflow week between Nov. 18-22 when the ETFs saw <a href="https://crypto.news/bitcoin-etfs-3-38b-weekly-inflows-vaneck-180k/" target="_blank" rel="noopener noreferrer nofollow">$3.38 billion in inflows</a> pushing Bitcoin towards its all-time high of $99,645 towards the end of last week.
Meanwhile, the recent surge in inflows into Ether ETFs is likely linked to Ethereum’s price rally, which may have been influenced by crypto privacy mixer Tornado Cash’s <a href="https://crypto.news/tornado-cash-smart-contracts-cleared-of-ofac-sanctions-in-latest-ruling/" target="_blank" rel="noopener noreferrer nofollow">partial victory </a>in U.S. courts.
Additionally, investor interest in Ethereum may have increased following reports that former SEC commissioner and crypto advocate Paul Atkins is now the <a href="https://crypto.news/former-commissioner-paul-atkins-is-top-candidate-for-sec-chair/" target="_blank" rel="noopener noreferrer nofollow">leading candidate to replace Gary Gensler</a> as SEC Chair. This development has heightened expectations of a more favorable regulatory environment for the DeFi space under a Donald Trump-led U.S. administration.
At press time Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) was up 0.6% in the last 24 hours, exchanging hands at $96,279 while Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">E</a><a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ethereum/">TH</a>) was down 0.9% trading at $3,570 per coin.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/qcp-capital-ethereum-eyes-35-rally-as-spot-etf-inflows-hit-90m/"> QCP Capital: Ethereum eyes 35% rally as spot ETF inflows hit $90m </a>

Bitcoin ETFs lagged behind Ether ETFs ahead of Thanksgiving

crypto.news

Other articles published on Nov 29, 2024

Zilliqa 2.0 - Jasper testnet phase concludes ahead of Aventurine launch

Master the Solana Market with SOL Sniper Bot 🚀

Ethereum Foundation Invests in zkVMs to Boost Scalability

Runway AI: Transforming Creative Processes with Advanced Generative Tools

Ripple (XRP) Price Soars 15% Daily, Flips Binance Coin (BNB)

MOG Price Plunges 19%, But Trending Meme Coin Catslap ($SLAP) Soars 25% As Trading Signals Flash ...

Join our free newsletter for daily crypto updates!