Ethereum

Momentum

US investors continued to pour money into the spot Bitcoin ETFs after Donald Trump’s victory in the presidential elections, and the streak extended into the past five trading days.
The Ethereum counterparts have also enjoyed the momentum by attracting almost a billion dollars within the past week.
<h2 id="btc-etfs-keep-the-momentum-going">BTC ETFs Keep the Momentum Going</h2>
The initial <a href="https://cryptopotato.com/best-bitcoin-etf/" data-wpel-link="internal" rel="noopener noreferrer nofollow">11 and now 12 spot Bitcoin ETFs</a> have already <a href="https://cryptopotato.com/bitcoin-etfs-hit-50-5b-in-cumulative-net-inflows-in-first-year/" data-wpel-link="internal" rel="noopener noreferrer nofollow">broken</a> several records in terms of massive net inflows in their first year. This is particularly true for BlackRock’s IBIT, which quickly became the largest of the bunch and continues to be the favorite among investors.
The past five trading days solidified the recent trend that started even before the elections. On Monday, December 9, the funds attracted $489.1 million in net inflows, followed by $438.5 million on Tuesday, $223.1 million on Wednesday, $597.5 million on Thursday, and $428.9 million on Friday, finishing the week strong.
Overall, the <a href="https://farside.co.uk/bitcoin-etf-flow-all-data/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">total numbers</a> for this period shot up to $2,167.1 billion. Although it is <a href="https://cryptopotato.com/etf-recap-record-setting-week-for-ethereum-bitcoin-funds-amid-price-rallies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">lower</a> than last week’s, it still means that more than $2 billion has been poured into the ETFs within just several days.
IBIT led the charge during four of the trading days, with $394.1 million on Monday, $295.6 million on Tuesday, $431.6 million on Thursday, and $393 million on Friday. It saw no reportable flows on Wednesday, while Fidelity’s FBTC stood out with $121.9 million on that day.
These substantial net inflows have positively impacted BTC’s price as the asset is up by 3% on a weekly scale and sits close to a new all-time high.
<h2 id="eth-etfs-are-doing-well-too">ETH ETFs Are Doing Well, too</h2>
The <a href="https://cryptopotato.com/best-ethereum-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum ETFs</a> have also enjoyed the past several weeks following their sluggish start. Their streak began even further back—on November 22—and they have yet to see a day in the red since.
Once again, they <a href="https://farside.co.uk/ethereum-etf-flow-all-data/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">recorded</a> impressive numbers in the past week, attracting $149.8 million on Monday, $305.7 million on Tuesday, $102 million on Wednesday, $273.7 million on Thursday, and a more modest $23.6 million on Friday. The total now stands at $854.8 million.
Interestingly, ETH’s price is actually down on a weekly scale by 2.5%. The asset jumped above $4,000 during the previous Friday but has been unable to maintain its momentum and now sits below $3,900 following a turbulent week.
The post <a href="https://cryptopotato.com/bitcoin-ethereum-etf-streak-continues-with-massive-net-inflows-weekly-recap/" rel="noopener noreferrer nofollow">Bitcoin, Ethereum ETF Streak Continues With Massive Net Inflows: Weekly Recap</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin, Ethereum ETF Streak Continues With Massive Net Inflows: Weekly Recap

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