Improved Sentiment Boosts Bitcoin ETF Inflows in the U.S.

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by Giorgi Kostiuk

2 years ago

U.S. spot Bitcoin ETFs witnessed renewed inflows driven by the cryptocurrency's rally towards the $100K milestone.

Bitcoin ETF Inflow Dynamics

As reported by SoSoValue, U.S.-based Bitcoin ETFs saw $103.09 million in inflows on November 27. Leading was Bitwise’s BITB with $48.05 million, followed by Fidelity’s ETF with $40.24 million. Grayscale Bitcoin Mini Trust and Franklin Templeton’s EZBC contributed $11.99 million and $2.81 million, respectively.

Ethereum ETFs Show Strong Growth

On November 27, Ethereum ETFs recorded their fourth day of consecutive inflows, amounting to $90.1 million. Fidelity’s ETF led with $38.01 million followed by Grayscale Mini Ethereum Trust with $37.29 million, while VanEck’s and Bitwise’s Ethereum-related ETFs added $13.25 million and $1.56 million, respectively.

Current Cryptocurrency Market Trends

Bitcoin increased by 3% reaching $95,484, while Ethereum saw a 5.2% rise to $3,598. The rally was also supported by $56.85 million in Bitcoin short liquidations.

The renewed inflows into Bitcoin and Ethereum ETFs indicate improved investor sentiment and suggest a potential continuation of the cryptocurrencies' rally.

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