Bitcoin ETF Gains $52M Amid Strong Weekly Inflows
blockchainreporter.net 27 July 2024 21:15, UTC Bitcoin exchange-traded funds (ETFs) witnessed a positive inflow of $52 million on July 26, marking a significant gain for the leading cryptocurrency. Over the past week, the ten Bitcoin ETFs collectively attracted an impressive $535 million inflows. This strong performance was observed across four of five trading days, indicating robust investor confidence in Bitcoin. Notably, this total does not include data from the Valkyrie (BRRR) ETF, which reported no net flows for the past four days.
US #ETF 26 JUL: $52M to $BTC and $163M to $ETH
BTC ETF UPDATE (final): +$52M
• The 10 Bitcoin ETFs saw a total inflow of $535M this week, with inflows on 4 out of 5 trading days.
• The above inflow figure does not include #Valkyrie (BRRR) data. This ETF has had $0… pic.twitter.com/ewsIejI4OJ
— Spot On Chain (@spotonchain) July 27, 2024
In stark contrast, Ethereum ETFs experienced a substantial outflow of $163 million on July 26. This considerable movement underscores a different investor sentiment towards Ethereum compared to Bitcoin. The significant outflow might suggest profit-taking or a shift in Ethereum’s market outlook, reflecting investors’ more cautious approach.
The divergent flows into Bitcoin and Ethereum ETFs highlight varying investor perspectives and strategies. Bitcoin’s strong inflows suggest continued confidence and interest in the asset, potentially driven by its perceived stability and market position. On the other hand, the outflows from Ethereum ETFs may indicate changing market sentiments or investors’ strategic reallocations. This dynamic could have significant implications for future ETF strategies and the broader market behaviour of these leading cryptocurrencies.
Final BTC ETF Update
The final update for the week reveals that Bitcoin ETFs garnered a total of $535 million, with inflows observed on most trading days. The Valkyrie (BRRR) ETF remained static, with no net flows for the last four days, highlighting specific variances within the Bitcoin ETF landscape.
The attached images provide a detailed visual representation of the Bitcoin ETF inflows and Ethereum ETF outflows. The first image illustrates the strong inflows into Bitcoin ETFs, underscoring the positive market sentiment towards Bitcoin investments. The second image highlights the significant outflows from Ethereum ETFs, indicating a contrasting trend and a more cautious investor approach towards Ethereum.
