Ethereum ETF Strong Gains $32 Million Inflows Amid Bitcoin Slump

Bitcoin ETF
Source: Depositphotos

The U.S. spot Bitcoin Exchange-Traded Fund received a $32.3 million inflow on 31 October, the lowest net inflow in the past seven days. Meanwhile, the Ethereum Spot Exchange Traded Fund saw positive inflows yesterday. 

According to the Farside investor, this is the lowest inflow faced by Bitcoin ETF on 31 OCT. BlackRock’s IBIT (i shares), the largest spot Bitcoin ETF by net assets, led the inflows with $318.8 million on Thursday. Fidelity FBTC saw a $72.3 million outflow. 

ARK and 21 shares ARKB and Bitwise BITB saw outflow, with $94.2 million and $74 million following into the two products. Valkyrie BRRR logged a $1.9 million inflow. vanEck HODL booked $13.8 million outflow. Likewise, Grayscale GBTC logged a $13.1 outflow.

However, the five other Exchange Trade Funds had zero flow. The daily trading volume of these 12 spots Bitcoin ETF’s is $3.07 billion on Thursday, up from $1.97 billion on Wednesday.

Today, bitcoin decreased by 3.21% over the past 24 hours trading at $70058.74, which had reached $73483.98 by the last week of October. Bitcoin volume one day reached $46.92 billion. BTC’s total market cap is $1.39T. 

Ethereum ETF Had A Positive Flow

On October 31, the U.S. spot Ethereum Exchange-Traded Fund saw a $13 million inflows. BlackRock ETHA experienced a $49.6 million inflow yesterday. Grayscale ETHE logged a $36.6 million outflow. The seven  Ether Exchange Trading Funds had zero flow.

The total trading volume of these nine ETFs was $281.70 million on Thursday, up from $220.00 million on Wednesday. According to the Coinmarketcap, Ethereum (ETH) decreased 4.51% over the past 24 hours trading at $2,518.36.

Related Reading | U.S. Spot Bitcoin ETFs Set Record On Tuesday Sees $870.1 Million Daily Inflows