Bitcoin ETFs led the agenda with positive net inflows for the fifth day in a row, with an inflow of over $39 million recorded. On the other hand, Ethereum ETFs faced outflows for the fifth day. GrayscaleWith the influence of giants such as Fidelity and Bitwise, Bitcoin ETFs have become a favorite of investors.
Bitcoin ETFs Gain Momentum
Bitcoin ETFs seem to have the wind behind them in the cryptocurrency world with the momentum they have gained in the last five days. The net inflow of $39.42 million on Wednesday is an indication that Bitcoin has renewed confidence in investors. Grayscale’s mini Bitcoin trust fund formed a significant part of this flow with $14.2 million. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Fidelity and Bitwise took their place on stage, each reporting inflows of approximately $10 million. BlackRock’s IBIT ETF maintains its leadership by attracting $8.35 million in new investment. All these developments solidify Bitcoin’s place in the ETF world.
Ethereum Has Exits
Unlike Bitcoin, Ethereum ETFs have not achieved the same success. As of Wednesday, $17.97 million in outflows were recorded from Ethereum ETFs. Grayscale’s ETHE fund in particular had the largest outflow with $31.14 million. However, Fidelity’s FETH ETF showed that confidence in Ethereum has not been completely shaken with a net inflow of $7.93 million.
Franklin Templeton’s Ethereum fund is also trying to resist this decline with a $1 million inflow. Although Ethereum’s combative stance has been overshadowed by Bitcoin, it is still seen as an opportunity for investors.
Latest Situation in Bitcoin and Ethereum Prices
Cryptocurrency Bitcoin, the flagship of the units, rose by 2.33% in the last 24 hours to $60,735, while Ethereum rose by 1.09% to $2,621. The total trading volume of Bitcoin ETFs reached $1.42 billion on Wednesday, outperforming the previous day. Ethereum ETFs were relatively dull with a trading volume of $201 million.
While Bitcoin ETFs have become a shining star in the eyes of investors, Ethereum ETFs are going through a tough test. However, it is important to remember that the balances can change at any time in the cryptocurrency world.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
