Net Inflows into Spot Bitcoin and Ether ETFs in the US

Spot Bitcoin ETFs in the US recorded net inflows of $74.6 million, while spot Ether ETFs saw net inflows of $53 million. This development indicates the end of a series of outflows that reached a total of $1.16 billion over three consecutive trading days for Bitcoin. Ether funds also closed a seven-day streak of outflows totaling $657 million. This change in fund flows occurred alongside a weakening of the selling pressure observed at the beginning of the week. Outflows from Bitcoin ETFs were at $399 million on Monday, dropping to $116 million on Tuesday. According to data from Farside Investors, BlackRock's iShares Bitcoin Trust fund experienced outflows of $201.2 million, bringing total outflows to $935.2 million. In contrast, Fidelity's Wise Origin Bitcoin Fund product recorded the strongest inflow of the day at approximately $237 million. On Wednesday, the price of Bitcoin rose above $80,000. Market participants indicate that the price movement cannot be solely explained by political outcomes. Spot Bitcoin ETFs and Bitcoin accumulation on corporate balance sheets could expand the demand base but may also make it more susceptible to institutional selling pressure. The sustainability of inflows on the Bitcoin and Ether sides will be monitored in the upcoming trading days.

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