Bitcoin ETFs Surge with $1.83B Inflows, Dominating Over Ethereum and US Markets
Trend:
The current week represents a significant change compared to previous weeks, characterized by a substantial recovery after a decline. The total volume of funds surged to $1.83B, marking an increase of 969.92%. This dramatic rise indicates a renewed investor interest and confidence in the market, suggesting potential bullish sentiment among market participants.
Comparison total flows of Hong Kong vs US ETFs:
The total flows for US ETFs amounted to $1.83B, while Hong Kong ETFs recorded $0. This stark difference can be attributed to the higher adoption and liquidity of ETFs in the US market compared to Hong Kong. Additionally, the regulatory environment and market maturity in the US provide a more conducive atmosphere for ETF investments.
Comparison total flows of Bitcoin vs ETH ETFs:
ETH ETFs saw no inflows this week, while BTC ETFs experienced a substantial inflow of $1.83B. This trend underscores the dominant position of Bitcoin in the crypto market, possibly driven by its broader acceptance and recognition as a store of value compared to Ethereum.
Biggest Gainer:
The ETF with the biggest gain this week was IBIT, with a gain of $948.00M. IBIT is issued by BlackRock and is a prominent Bitcoin ETF known for its significant market influence and investor trust.
Biggest Loser:
The ETF with the biggest loss was GBTC, which saw a decline of -$31.10M. GBTC, issued by Digital Currency Group, Inc. (Grayscale), is a well-known Bitcoin trust but has faced challenges due to market volatility and competition from other ETFs.
Day with the Highest Inflow:
The day with the highest inflow was Monday, with an amount of $1.04B. The ETF with the highest gain on this day was IBIT, which gained $849.00M. Conversely, GBTC experienced the largest loss on Monday, with a decline of -$79.00M. IBIT, issued by BlackRock, continues to attract significant investor interest, while GBTC, despite its established presence, faced outflows.
Day with the Highest Outflow:
The day with the highest outflow was Wednesday, with an amount of -$563.70M. On this day, BTCO had the highest gain of -$5.40M, while FBTC saw the largest loss of -$191.10M. BTCO, the Invesco Galaxy Bitcoin ETF, and FBTC, the Fidelity Wise Origin Bitcoin Fund, both experienced notable movements, reflecting the dynamic nature of the Bitcoin ETF market.
Bitcoin ETFs Performance
BlackRock's spot bitcoin ETF has surpassed 300,000 BTC in assets under management after five months of trading. Read more. U.S. Bitcoin ETFs experienced their second-highest daily net inflows on June 4, amounting to $886.75 million. Read more. Fidelity’s Bitcoin fund led with $378.7 million in net inflows on this day. Read more. Bitcoin ETFs have recorded $886.6 million in inflows, the second-highest on record, while Bitcoin surged to $71,200. Read more. Wisconsin's pension plan is likely to invest more in Bitcoin ETFs. Read more. U.S. Bitcoin ETFs have seen 19 consecutive days of inflows. Read more.
Ethereum ETFs and Market Reactions
SEC Chair Gary Gensler discussed the future of crypto ETFs after the approval of Ethereum ETFs. Read more. Analysts doubt political influence in the SEC’s Ethereum ETF approvals post Biden's veto. Read more. Ethereum ETFs could see $3.9 billion inflows in the first 100 days. Read more. Crypto exchanges have seen a $3 billion Ethereum exit since ETF approvals. Read more. Ether options’ implied volatility has outpaced Bitcoin options as traders eye the spot ETFs rollout. Read more.
Global ETF Developments
Australia's Monochrome Bitcoin ETF will begin trading on the Cboe Australia exchange. Read more. The EU elections could pave the way for the first Ether ETF. Read more. Hong Kong may allow staking for spot Ethereum ETFs within this year. Read more.
Market Insights and Predictions
Bitcoin ETFs worldwide are in focus as BTC price passes $71K. Read more. Ethereum ETFs could draw $4 billion in the first five months. Read more. Analysts say increased spot Bitcoin inflows could send the BTC price higher. Read more. Franklin Templeton is eyeing a new crypto fund after Ethereum ETF approval. Read more.
