Bitcoin ETFs See 9-Day Inflow Streak With $6.37M Gain Led By Blackrock

Bitcoin ETFs have extended their inflow streak to nine consecutive days, with a modest gain of $6.37 million. This steady inflow reflects cautious but persistent investor confidence in the market. The inflows were primarily driven by Blackrock’s IBIT, which saw a significant inflow of $46.91 million. This inflow was partially offset by a $40.55 million outflow from Fidelity’s FBTC, resulting in a net positive flow for the day. Despite the light trading activity, the total net assets for bitcoin ETFs stood at $126.54 billion, indicating a slight decrease from previous levels.

In contrast, ether ETFs experienced a net outflow of $11.34 million, breaking their three-day inflow streak. The outflow was largely attributed to Blackrock’s ETHA, which saw $19.71 million exit the fund. Grayscale’s Ether Mini Trust and Vaneck’s ETHV attempted to mitigate the outflow with inflows of $6.60 million and $1.77 million, respectively. However, these inflows were not sufficient to prevent the overall outflow for the day. Total ether ETF trading volume was robust at $687.41 million, with net assets closing at $9.60 billion.

Despite the post-holiday lull, the market for bitcoin ETFs continues to show resilience, with investors maintaining a steady inflow of funds. The dominance of Blackrock’s IBIT in the market is evident, as it continues to attract significant inflows. The slight decrease in total net assets for bitcoin ETFs suggests a cautious approach from investors, who are likely monitoring market conditions closely. The outflow from ether ETFs, on the other hand, indicates a shift in investor sentiment towards bitcoin, which may be driven by various factors such as market volatility or regulatory developments.

As the week comes to a close, the market signals a brief pause in momentum, but the green streak for bitcoin ETFs remains intact. The steady inflow of funds into bitcoin ETFs, despite the post-holiday lull, is a positive sign for the market. Investors are likely to continue monitoring market conditions closely, and any significant developments could impact the inflow of funds into bitcoin and ether ETFs. The dominance of Blackrock’s IBIT in the market is a key factor to watch, as it continues to attract significant inflows and maintain its position as a leading player in the bitcoin ETF space.