In a significant move, Crypto token prices change daily. Likewise, the U.S. Spot Bitcoin Exchange Traded Fund had a $103 million inflow on sunday. On the other hand, the U.S. spot Ethereum Exchange-traded fund saw a positive inflow of $90 million.
According to Farside data, investors have shown interest after two days of outflow. On 27 November 2024, the BTC ETF booked a $103 million inflow. Fidelity, FBTC’s second-largest spot, BTC Exchange Trade Fund, by net assets, led this surge, marking a $40.2 million inflow.
Tim Draper Predicts Bitcoin Surge
Furthermore, Grayscale BTC had a role in inflow with $12 million, while Franklin EZBC saw a $2.8 million inflow. Eight Bitcoin ETFs had zero flow. The daily trading volume of these 12 spot Bitcoin ETFs is $4.59 billion. U.S. BTC Spot ETF Total Net Assets reached $104.32 billion, with the net Asset ratio reaching 5.46%.
At the time of writing, the leading coin is trading at $96,840.05, up 1.93% over the past 24 hours, according to coinmarketcap. Bitcoin’s Total supply reached 19.79M, and the Bitcoin market cap gained 1.87% over the past 24 hours and got $1.91T.
The cryptocurrency Bitcoin is still “cheap” according to the billionaire Tim Draper, even though its current price is 30 times as high as the one he had predicted, thus reaching over three million U.S. dollars. He claims it as the cash of tomorrow, which will decrease the demand for fiat money.
Draper continues to have a positive outlook on Bitcoin’s massive adoption as a form of payment and its transformative potential despite the fact that he was wrong in his earlier predictions.
Ether ETF Saw Positive Inflow
On November 27, the U.S. Spot Ethereum ETF received a $90.1 million inflow, marking a significant inflow in the last three days. Fidelity FETH led this surge with a $38 million inflow. Grayscale ETH and VanEck ETHV received $37.3 million and $13.2 million inflows, respectively.
The other five Ether ETFs had zero flow. Ethereum ETF Total Net Assets reached $10.80 billion, with a net Asset ratio of 2.47% (this ratio is equal to the Ethereum Market Cap). As of the November 27 update, the ETH total value was $881.59 million. Ethereum price dipped 0.68% over the past 24 hours, trading at $3,598.75.
The second largest offshore exchange, OKX, announced the 25th proof of asset reserves (snapshot date November 13). The report highlights a 7.90% surge in user-held Ethereum (ETH) assets compared to the previous snapshot on October 8. In contrast, BTC assets rose 1.87%, and USDT holdings increased by 15.37%.
OKX’s total reserve assets now stand at $26.611 billion, up $1.883 billion over the past month. It significantly boosts user confidence and asset stack for Ethereum and other key tokens.
Related Reading | Bitcoin Spot ETF Saw $1 Billion Inflow, Bitcoin Price Near To $100k
