Bitcoin ETF records $252 million in inflow extending positive inflow streak to 7 days
The 12-spot Bitcoin Exchange Traded Funds (ETFs) recorded an inflow of $252 million on the last trading day for the week extending their positive inflow streak to six days.
This has been the longest streak of positive inflow for Bitcoin ETFs since they launched in January and it spells a strong bullish sentiment for the flagship crypto asset.
According to Data from Farside Investors UK, Blackrock’s IBIT led the inflow for the day with over $86.8 million entering the funds. Blackrock’s IBIT was followed by Fidelity’s FBTC which pulled in $64 million in inflows.
Grayscales’ Mini trust came third place by pulling in $50.8 million in inflows while Bitwise BITB pulled in $42.3 million. Ark 21 shares AKRB recorded $23.8 million in inflows and VanEck’s HODL pulled in $14.4 million.
Invesco’s BTCO and Valkyrie BRRR pulled in $3.2 million and $2.3 million respectively.
Grayscale’s GBTC recorded the only outflow for the day with $35.6 million leaving the funds.
The last day of the trading week for spot Bitcoin ETFs closed with a net inflow of $252 million
Bitcoin Price Analysis
Following the impressive inflow of funds to the ETFs of Bitcoin. Bitcoin at the time of the report is exchanging hands for $64,302 surging by 5.3% in the last 24 hours with a maximum price of $64,828 and a minimum price of $60,722.
The crypto asset is down 12.8% from its all-time value of $73,737.
Ethereum ETFs record $5.7 million in Outflows
The nine-spot Ethereum ETFs recorded an outflow of $5.7 million in the last trading day of the week.
According to Data from Farside Investors UK. VanEck Ethw led the inflows for the day with a paltry inflow of $2 million followed by Bitwise ETHW which pulled in $1.4 million. Fidelity’s Feth recorded the last inflow for the day which is valued at $700,000.
The Inflows were offset by outflow on Grayscale’s ETHE with $9.8 million leaving the funds.
The trading day of the trading week for spot Ethereum ETFs ended with a net outflow of $5.7 million.
Ethereum Price Analysis
Ethereum at the moment is exchanging hands for $2,777 surging by 4% in the last 24 hours with a maximum price of $2,778 and a minimum price of $2,565
The crypto asset is down 43.1% from its all-time high of $4,878
What to know
- From a technical point of view, Bitcoin has broken the $60,000 resistance level and is headed for a $72,000 price level next.
- The impressive performance of Bitcoin can be partly attributed to the impressive run of 7 consecutive inflow days for the Bitcoin ETF with the last day recording a whopping $252 million inflow.
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