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Weekly Bitcoin, Ethereum ETF Insights: The Highs, Lows, and Key Takeaways
The past week has been quite eventful for the cryptocurrency market, with many investors keeping a close eye on the developments in the world of ETFs. In this article, we will take a closer look at the highs, lows, and key takeaways from the Bitcoin (BTC) and Ethereum (ETH) ETF insights.
To start off, it is essential to note that the spot Bitcoin ETFs faced significant outflows after the FOMC meeting, with December 19 being the worst day in terms of daily net outflows, with a staggering $671.9 million taken out. This trend continued for several days until Friday, when the funds finally saw an influx of capital.
Interestingly, Fidelity’s FBTC led the pack by attracting a massive $357 million, followed closely by BlackRock’s IBIT and Ark Invest’s ARKB, which received investments worth $253.1 million and $222.6 million, respectively. It is crucial to note that no fund recorded any outflows on Friday.
The week started with some significant red numbers, as investors withdrew an astonishing $415.1 million on Monday and another $242.3 million the following Thursday. However, this negative trend was reversed after Friday’s inflows, resulting in a net gain of $256 million for the entire week.
As for Ethereum ETFs, it is essential to emphasize that they have had a different story compared to their Bitcoin counterparts. While the latter saw significant outflows initially, the former has been largely unaffected, with only two days experiencing withdrawals since mid-December. It is crucial to note that despite the FOMC aftermath affecting the entire market, Ethereum’s native token remained 6.5% higher on a weekly scale.
It is essential to understand that we are witnessing a unique environment in the crypto market right now, and investors should be aware of these developments when making their investment decisions.
Source: cryptopotato.com
