The Bitcoin Spot ETF recorded net inflows of $240 million, ending a six-day streak of outflows, according to SoSoValue data.
Bitcoin and Ethereum spot ETF re-entry wave: $240 million in net inflows
The bulk of the inflows came from the two largest fund providers in the market. BlackRock's IBIT ETF had net inflows of $112 million for the day, while Fidelity's FBTC fund had net inflows of $61.6 million. This recovery suggests that investors are strengthening their long-term positions despite market volatility.
According to recent data, the total assets under management (AUM) of Bitcoin ETFs reached $135.4 billion, accounting for 6.73% of Bitcoin market capitalization. Experts say this rally and expectations of a US interest rate cut have brought new confidence to the crypto market.
Meanwhile, the Ethereum Spot ETF also ended its six-day outflow streak. On November 6, the fund recorded net inflows of $12.51 million, indicating renewed investor interest.
BlackRock's ETHA ETF and Fidelity's FETH ETF led the way with inflows of $8 million and $4.94 million, respectively. Meanwhile, Grayscale's ETHE fund recorded outflows of $3.52 million on the same day.
According to the latest data, the total asset value of the Ethereum ETF is $21.75 billion, which is equivalent to 5.45% of ETH's market capitalization.
*This is not investment advice.
