In a significant move, the U.S. Spot Bitcoin Exchange-Traded Fund experienced a $2.22 billion net inflow, the third-largest weekly net inflow in history. Meanwhile, Ethereum spot ETF had a net inflow of $13 million last week.
According to Sosovalue, From October 28 to November 1, Bitcoin ETF saw a significant inflow last week. BlackRock’s (i shares) IBIT, the largest spot bitcoin Exchange Traded Fund by net assets, led the inflows with $2.15 million last week.
On the other hand, the U.S Spot Ethereum Exchange-Traded Fund saw a positive inflow last week, with a $13 million net inflow. BlackRock ETHA led this inflow surge with saw $65.5 million. However, four Ether ETFs had zero inflow last week, including Grayscale ETH and VanEck ETHV.
U.S. ETFs Set To Reach $1 Trillion in Inflows
With strong interest in crypto-based Exchange Traded Funds, the U.S. Exchange Traded Fund market is close to hitting a record $1 trillion yearly inflows. By October 31, U.S. ETFs were just $100 billion away from beating the previous high of $910 billion.
Bloomberg analyst Eric Balchunas says that with about $4 billion flowing in each day, total inflows could hit $970 billion and reach $1 trillion by the end of the year.
The Bitcoin Exchange Traded Fund market experienced a significant drop in funds on Friday, with $54.9 million in outflows. Similarly, the Ether Exchange Traded Fund market also saw a decline, with $10.9 million flowing out on the same day.
Related Reading | U.S. Spot Bitcoin ETFs Set Record On Tuesday Sees $870.1 Million Daily Inflows
