The post Bitcoin and Ethereum ETFs See Record Inflows as Crypto Markets Surge appeared first on Coinpedia Fintech News
Bitcoin ETFs saw a huge boost with $1.67 billion in new investments last week, bringing total assets to $95.4 billion. Spot Bitcoin exchange-traded funds (ETFs) maintained their strong momentum, marking another successful week as Bitcoin surged to a new all-time high of $93,400. Meanwhile, Ethereum spot ETFs saw their highest inflows in recent weeks, reflecting growing investor interest.
Bitcoin ETFs Hit New Heights
In the second week of November, Bitcoin’s spot ETFs saw a remarkable $1.67 billion in new investments. This marks the sixth consecutive week of positive inflows, bringing total assets under management (AUM) in Bitcoin ETFs to $95.4 billion.
Meanwhile, this accounts for 5.27% of Bitcoin’s total market value, which stands at $1.8 trillion. Bitcoin’s price surge, reaching an all-time high of $93,400, has been a key driver of these inflows.
BlackRock’s iShares Bitcoin Trust (IBIT) currently leads with $29.3 billion in total inflows. However, Grayscale’s Bitcoin Trust ETF has seen $20.3 billion in outflows since the launch of spot Bitcoin ETFs.
Ethereum ETFs Gaining Momentum
The strong performance in the Bitcoin ETF market coincides with a parallel rise in Ethereum spot ETFs. Ethereum ETFs recorded $515 million in weekly inflows, marking the third consecutive week of growth.
This surge has boosted the total net assets of spot Ethereum ETFs to $9.15 billion, with $880 million added from the previous week. This suggests that while investors are increasingly turning to Ethereum ETFs, the asset’s market value has not surged in the same way as Bitcoin’s.
However, despite the growing interest in Ethereum ETFs, the price of Ethereum itself has seen only a small increase, trading at around $3,115.