Bitcoin ETF Pulls in $88M in Inflows as GBTC Sees $12.81M Outflow

The 12 spot Bitcoin Exchange Traded Funds (ETF) ended yesterday trading hours on a positive note for the the fourth time in a row.

The 12 spot Bitcoin Exchange Traded Funds (ETF) ended yesterday's trading hours on a positive note for the fourth time in a row.

The Bitcoin ETFs pulled $88 million in inflows having pulled in $62.1 million, $35.9 million, and $11.1 million in the last three days.

According to Data from Farside Investors UK, Blackrock’s IBIT, the largest ETF by net assets led the inflow for the day pulling in $55.4 million. Coming in in second position was Ark Invest and 21 shares AKRB which pulled in $51.9 million.

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These were the only two inflows recorded for the day out of the 12 spot bitcoin ETFs.

The biggest outflow for the day was recorded by Grayscale’s GBTC which saw $12.81 million leave the fund. Bitwise BITB also witnessed a minor outflow of $6.47 million in net outflows.

The remaining Bitcoin ETF funds recorded zero activity for the day.

The Total trading volume for the day hit $1.35 billion and improvement from $779 million recorded on Monday.

Bitcoin Price Analysis

At the moment Bitcoin is exchanging hands for $59,420 dropping by 2.2% in the last 24 hours with a maximum price of $61,005 and a minimum price $58,710.

The crypto asset is down by 19.4% from its all time high of $73,737.

Ethereum ETF’s records fourth consecutive outflow

On the side of the spot Ethereum ETF’s, the nine etf products have experienced outflows for four consecutive days. The ETF products witnessed a minor outflow of $6.5 million leaving the funds yesterday.

According to data from Farside Investors UK, Grayscale’s ETHE led the outflow for the day with $37.0 million leaving the funds.

Grayscales outflow was countered by inflows of $26.8 million in Blackrock’s ETHA and $3.7 million in Bitwise ETHW. The remaining Ethereum ETF products recorded zero activity for the day.

The nine spot Ethereum ETFs recorded a total trading volume of $194.66 million.

Ethereum Price Analysis

At the time of report Ethereum is exchanging hands for $2,591 dropping by 2.6% in the last 24 hours with a maximum price of $2,666 and a minimum price of $2,562.

The crypto asset is down 47.0% from its all-time high of $4,878.