Spot Bitcoin ETFs have proved to have a major impact on the underlying asset\u2019s price movements, which could hint at upcoming rallies for BTC.<\/p>\n
This is because investors allocated more than $360 million in net inflows into the US-based ETFs yesterday, the highest levels in over two months.<\/p>\n
CryptoPotato<\/em> has repeatedly reported<\/a> in the past how investors\u2019 perception and behavior toward the spot BTC ETFs have either propelled price increases or major corrections. In times of growing inflows, bitcoin\u2019s price has risen, and vice-versa.<\/p>\n Investors have been on a shopping spree for the past few weeks. Ever since September 6, there have been only two trading days with net outflows out of 14. This culminated yesterday, with $365.7 million in net inflows entering the financial vehicles \u2013 the highest since July 22.<\/p>\n Ark Invest\u2019s ARKB led the pack with $113.8 million, followed by BlackRock\u2019s IBIT<\/a> ($93.4 million), Fidelity\u2019s FBTC ($74 million), and Bitwise\u2019s BITB ($50.4 million). Only Grayscale\u2019s GBTC saw minor outflows of $7.7 million.\u00a0Thus, the world\u2019s largest Bitcoin ETF, IBIT, has seen its total AUM grow to north of $21.3 billion.<\/p>\n These inflows have corresponded with a price increase for BTC. Notice that ever since last Wednesday, when the US Fed announced a 0.5% reduction in the key interest rates, investors have been pouring funds into<\/a> the ETFs.<\/p>\n Within this timeframe, bitcoin\u2019s price has surged from $59,300 to almost $66,000 reached today. This represents an 11% surge in just over a week.<\/p>\n <\/a>Bitcoin\/Price\/Chart 27.09.2024. Source: TradingView<\/p>\n The spot Ethereum ETFs have not enjoyed their time on US stock exchanges the same way their Bitcoin counterparts have. Still, there are some positive signs.<\/p>\n After the major withdrawals during the week when the Fed cut the rates, the situation worsened on September 23, with almost $80 million leaving the funds. However, September 24 and 25 saw $62.5 million and $43.2 million in net inflows, which turned the week around.<\/p>\n Nevertheless, yesterday was another day with minor net outflows ($0.1 million). The majority came from Grayscale\u2019s fund (\u2014$36 million), and Blackrock\u2019s ETHE, as well as Fidelity\u2019s FETH ($15.3 million and $15.9 million, respectively), could not offset the losses.<\/p>\n At the same time, though, ETH\u2019s price has gained more than 14% on a weekly scale and now sits above $2,660.<\/p>\n The post Biggest Net Inflow Day for Spot Bitcoin ETFs in 2 Months as BTC Price Eyes $66K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Spot Bitcoin ETFs have proved to have a major impact on the underlying asset\u2019s price movements, which could hint at upcoming rallies for BTC. This is because investors allocated more than $360 million in net inflows into the US-based ETFs yesterday, the highest levels in over two months. Demand for Spot BTC ETFs Rises CryptoPotato […]<\/p>\n","protected":false},"author":0,"featured_media":9874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9873"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9873"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9874"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ethereum ETFs\u2019 Situation<\/h2>\n
![<\/a>Bitcoin\/Price\/Chart 27.09.2024. Source: TradingView<\/p>\nEthereum ETFs\u2019 Situation<\/h2>\nThe spot Ethereum ETFs have not enjoyed their time on US stock exchanges the same way their Bitcoin counterparts have. Still, there are some positive signs.<\/p>\nAfter the major withdrawals during the week when the Fed cut the rates, the situation worsened on September 23, with almost $80 million leaving the funds. However, September 24 and 25 saw $62.5 million and $43.2 million in net inflows, which turned the week around.<\/p>\nNevertheless, yesterday was another day with minor net outflows ($0.1 million). The majority came from Grayscale\u2019s fund (\u2014$36 million), and Blackrock\u2019s ETHE, as well as Fidelity\u2019s FETH ($15.3 million and $15.9 million, respectively), could not offset the losses.<\/p>\nAt the same time, though, ETH\u2019s price has gained more than 14% on a weekly scale and now sits above $2,660.<\/p>\nThe post Biggest Net Inflow Day for Spot Bitcoin ETFs in 2 Months as BTC Price Eyes $66K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Spot Bitcoin ETFs have proved to have a major impact on the underlying asset\u2019s price movements, which could hint at upcoming rallies for BTC. This is because investors allocated more than $360 million in net inflows into the US-based ETFs yesterday, the highest levels in over two months. Demand for Spot BTC ETFs Rises CryptoPotato […]<\/p>\n","protected":false},"author":0,"featured_media":9874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9873"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9873"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9874"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/09\/BTCUSD-36.png\"){kind=link}