Home » Bitcoin » Bitcoin ETF Inflows Top $800M as Market Braces for Possible Correction

Bitcoin ETF Inflows Top $800M as Market Braces for Possible Correction

13.11.2024 14:00 1 min. read Alexander Stefanov
SHARE: SHARES
Bitcoin ETF Inflows Top $800M as Market Braces for Possible Correction

Spot Bitcoin ETFs in the U.S. saw significant inflows this week, with $817.5 million on Tuesday, following Monday’s $1.1 billion.

Daily trading volume across 12 spot Bitcoin ETFs reached $5.7 billion on Tuesday, up from $2.8 billion last Friday, according to data from Farside.

BlackRock’s IBIT led Tuesday’s inflows with $778.3 million, totaling $1.93 billion for the week. Fidelity’s FBTC added $37.2 million, while Grayscale’s Mini Bitcoin Trust and VanEck’s HODL each saw over $10 million. Grayscale’s GBTC had $17.8 million in outflows, and Ark and 21Shares’ ARKB reported $5.4 million in net outflows.

Bitcoin’s recent price surge, driven by a crypto market rally after Donald Trump’s election win, has temporarily paused. The asset dropped 3.4% to $86,855 after briefly surpassing $90,000. Ether also declined 7.35% to $3,142.

Some analysts expect that Bitcoin’s pullback may reflect profit-taking among large holders, potentially leading to a short-term dip before an upward trend resumes, and that prices could additionally be impacted by today’s CPI release.

Spot Ethereum ETFs recorded significant activity on Tuesday, drawing in $135.9 million, their second-largest daily inflow since launch. BlackRock’s ETHA led the pack, attracting $131.5 million. Bitwise’s ETHW added nearly $17 million, and Grayscale’s Mini Ethereum Trust followed with inflows of $12.7 million.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

Telegram

SHARE: SHARES
More Bitcoin News
No Comments yet!

Your Email address will not be published.