The 12 spot Bitcoin Exchange Traded Funds (ETF) ended yesterday trading hours on a positive note for the the fourth time in a row.
The Bitcoin ETFs pulled $88 million in inflows having pulled in $62.1 million, $35.9 million, and $11.1 million in the last three days.
According to Data from Farside Investors UK, Blackrock’s IBIT, the largest ETF by net assets led the inflow for the day pulling in $55.4 million. Coming in in second position was Ark Invest and 21 shares AKRB which pulled in $51.9 million.
These were the only two inflows recorded for the day out of the 12 spot bitcoin ETFs.
The biggest outflow for the day was recorded by Grayscale’s GBTC which saw $12.81 million leave the fund. Bitwise BITB also witnessed a minor outflow of $6.47 million in net outflows.
The remaining Bitcoin ETF funds recorded zero activity for the day.
The Total trading volume for the day hit $1.35 billion and improvement from $779 million recorded on Monday.
Bitcoin Price Analysis
At the moment Bitcoin is exchanging hands for $59,420 dropping by 2.2% in the last 24 hours with a maximum price of $61,005 and a minimum price $58,710.
The crypto asset is down by 19.4% from its all time high of $73,737.
Ethereum ETF’s records fourth consecutive outflow
On the side of the spot Ethereum ETF’s, the nine etf products have experienced outflows for four consecutive days. The ETF products witnessed a minor outflow of $6.5 million leaving the funds yesterday.
According to data from Farside Investors UK, Grayscale’s ETHE led the outflow for the day with $37.0 million leaving the funds.
Grayscales outflow was countered by inflows of $26.8 million in Blackrock’s ETHA and $3.7 million in Bitwise ETHW. The remaining Ethereum ETF products recorded zero activity for the day.
The nine spot Ethereum ETFs recorded a total trading volume of $194.66 million.
Ethereum Price Analysis
At the time of report Ethereum is exchanging hands for $2,591 dropping by 2.6% in the last 24 hours with a maximum price of $2,666 and a minimum price of $2,562.
The crypto asset is down 47.0% from its all-time high of $4,878.
What to Know
- Spot Bitcoin ETFs recorded four days of consecutive positive inflow while Ethereum ETFs did the opposite recording four days of consecutive outflows.
- The Price of Bitcoin and Ethereum have been relatively stable following their respective ETF activities. Bitcoin only dropped by 2.2% in the last 24 hours while Ethereum dropped by 2.6% spelling a relatively stable range of price level.
