ETF Recap: Record-Setting Week for Ethereum, Bitcoin Funds Amid Price Rallies

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As a seasoned crypto investor with more than a decade of experience under my belt, I must admit that the recent surge in demand for Bitcoin and Ethereum ETFs has left me nothing short of astonished. Having weathered numerous market cycles and witnessed countless bull runs and bear markets, I have learned to remain cautiously optimistic. However, the sheer magnitude of this latest wave of investor enthusiasm has caught even my jaded eye.

In the United States, Bitcoin ETFs with a focus on the 11th spot have seen robust interest from investors after the presidential elections, resulting in another week with significant net inflows amounting to billions of dollars.

On this occasion, it’s likely that the same points will be made regarding Ethereum ETFs, now deemed appealing investment options as they become available.

BTC ETF Inflows Rockets

Last week of November, which was quite volatile, saw BTC-related financial instruments experiencing losses on both Monday and Tuesday, with withdrawals amounting to $435.5 million and $122.8 million respectively. The trend continued through Thursday, as it being a national holiday, resulting in further withdrawals at the end of the week.

In the last seven days, there’s been a shift in the trend. On Monday, an impressive $353.6 million flowed into the funds, with BlackRock taking the lead again. This was followed by additional investments of $676 million on Tuesday, $556.8 million on Wednesday, $766.7 million on Thursday, and $376.6 million on Friday. As a result, the total net inflows for the five-day trading period amounted to an impressive $2,729.7 billion.

This week saw a remarkable trend: Most of the net inflows were directed towards BlackRock’s IBIT. The world’s biggest Bitcoin Exchange-Traded Fund (ETF), created history this week by amassing approximately $2.6 billion from total inflows, as highlighted by Nate Geraci, president of the ETF Store.

“ETFs holding more btc than Satoshi is antithetical to btc’s ethos”…

Picture a scenario where shareholders of IBIT can swap their IBIT stocks for Bitcoin directly, thereby receiving the digital currency as physical possession.

It’s coming & will simply be next step down path towards full tokenization.

— Nate Geraci (@NateGeraci) December 7, 2024

The significant figures not only influenced but also propelled changes in the price trajectory of the underlying asset. For instance, Bitcoin surpassed its previous highest record by soaring above $100,000 for the first time on a Thursday and peaked at an all-time high of over $100,350.

ETH ETF Demand Is Finally Here

Initially, Ethereum ETFs faced difficulty in generating any real interest, but over the past fortnight, a staggering inflow of $1.4 billion has been observed into these funds.

Now 10 consecutive days of inflows into spot eth ETFs…

$1.4bil total.

Includes 2 best days since July launch.

Advisors & institutional investors only beginning to sniff around here IMO.

— Nate Geraci (@NateGeraci) December 8, 2024

On Thursday, we broke a record with a staggering sum of $428.5 million. The previous days saw significant contributions as well: Monday – $24.2 million, Tuesday – $132.6 million, Wednesday – $167.7 million, and Friday – $83.8 million. This brought the weekly total to a record-breaking $836.8 million, which marks the highest since our funds were established in July.

Over the past few days, the value of Ethereum (ETH) has dramatically increased, reaching above $4,000 for the first time since March of this year in the late hours of Friday. Compared to last Sunday, ETH has experienced an uptrend of 8%.

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2024-12-08 16:57