The 11 spot Bitcoin ETFs in the States continue to enjoy substantial investor demand following the presidential elections, with another week of multi-billion dollar net inflows.
This time, the same can and will be said about the spot Ethereum ETFs, which finally emerge as attractive investment tools.
BTC ETF Inflows Rockets
The previous business week – the last of November – was somewhat shaky as the BTC-based financial vehicles were in the red on Monday and Tuesday, with outflows of $435.5 and $122.8, respectively. The week actually finished with more withdrawals, as Thursday was a national holiday.
However, the trend changed in the past week. $353.6 million entered the funds on Monday, with BlackRock leading the pack once again. $676 million followed on Tuesday, $556.8 million on Wednesday, $766.7 million on Thursday, and $376.6 million on Friday. Consequently, the total net inflows for the five-day trading period stood at $2,729.7 billion.
What’s particularly intriguing about this week was that almost all of those net inflows went into BlackRock’s IBIT. The world’s largest Bitcoin ETF, which made more history this week, attracted over $2.6 billion out of the total. Nate Geraci, ETF Store’s president, outlined IBIT’s dominance.
These impressive numbers impacted the underlying asset’s price movements as well. BTC skyrocketed past $100,000 for the first time ever on Thursday and charted a new all-time high of over $100,350.
ETH ETF Demand Is Finally Here
The spot Ethereum ETFs struggled at first to attract any actual demand, but the landscape has changed completely in the past two weeks, with $1.4 billion entering the funds within that timeframe.
The record-setting day was on Thursday, with $428.5 million. $24.2 million on Monday, $132.6 million on Tuesday, $167.7 million on Wednesday, and $83.8 million on Friday made the total of $836.8 million for the week – the best since the funds’ inception in July.
ETH’s price has also skyrocketed in the past several days, surging past $4,000 on Friday evening for the first time since March of this year. ETH is up by 8% since last Sunday.
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