The U.S. Spot Bitcoin Exchange Traded fund saw positive inflows on Thursday. The Bitcoin ETF booked a $1 billion inflow, marking its highest weekly inflow. On the other hand, the U.S Spot Ethereum Exchange Traded Fund had a $9 million outflow, which shows low investor interest.
According to Sosovalue, the Bitcoin ETF saw a significant surge in inflow on 22 November. The Blackrock IBIT led this surge and saw a $608.4 million inflow, while Fidelity FBTC logged a $301 million inflow. Bitwise BITB and VanEck HODL saw positive flows, with $68 million and $5.6 million inflows, respectively.
Bitcoin nears $100K milestone, market surge
The total daily trading volume for these 12 ETFs reached $7.10 billion on Thursday, up from $5.09 billion on Wednesday. However, the four BTC ETFs have zero flow.
Mike Novogratz, CEO of GLXY CN, recently tweeted on the social media platform X (formerly known as Twitter) that Bitcoin’s price could rise significantly beyond $100,000, calling this milestone “just the start.” Billionaire investors attribute the expected surge to pro-crypto leadership, increasing demand from the Middle East, and Bitcoin’s limited supply.
The First Cryptocurrency tiken has reached a new milestone, hitting $99,000 for the first time and setting a fresh all-time high. The cryptocurrency is now just a step away from the highly anticipated $100,000 mark. According to Coinmarketcap, BTC traded up 2.40% over the past 24 hours to $99,460. Bitcoin’s market cap is $1.97T, up 2.45% over the past 24 hours.
Ether ETF Saw $9 Million Outflow
On November 21, the total net outflow of Ethereum spot ETF was $9.0492 million. Grayscale ETF ETHE had a net outflow of $27.0753 million on a single day, and Fidelity ETF FETH had a net inflow of $16.79 million on a single day.
Ether ETFs have seen $222.7 million in asset withdrawals over the past six days. Investors are shifting their focus to altcoins and showing increased interest in meme coins. Over the past two days, altcoin prices have experienced a significant surge.
Ethereum’s Price increased 7.30% over the past 24 hours, trading at $3,368.49. Ether, the second-largest cryptocurrency by market cap single-day volume, is $51.75 billion, up 48.31%. At the time of writing, ETH’s market cap is $405.81 billion.
Related Reading: U.S. Bitcoin ETF Inflows Surge $2.22B, Ethereum ETF Gains $13M
