Spot Bitcoin ETFs Add $129M, Ethereum ETFs Attract $78M

Strong Inflows Lift Bitcoin and Ethereum ETFs

Both Bitcoin and Ethereum recorded net inflows yesterday, November 25. The bitcoin ETFs recorded a net inflow of $128.7 million, while Ethereum ETFs added $78 million.

Among the BTC ETFs, the Fidelity Wise Origin Bitcoin Fund (CBOE: FBTC) is the table topper with $170.80 million in net inflows. The FBTC had earlier suffered a net intraday outflow of $190.37 million on November 20. Nevertheless, the past 2 days were in the green with moderate gains of $15.49 million and $108.02 million. The BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) attracted $83.01 million yesterday. It is worth noting that ETFs collectively form 6.6.54% of the Bitcoin market cap.

In the case of Ethereum ETFs, the Fidelity Ethereum Fund(CBOE: FETH) pulled in $47.5 million, leading the charts. The iShares Ethereum Trust(NASDAQ: ETHA) closely followed with a gain of $46.09 million. The ETFs constitute 5.16% of the Ethereum market cap.

The XRP spot ETFs registered a net intraday inflow of $35.41 million, with Bitwise XRP ETF(NYSE: XRP) recording the highest gains. The SOL ETFs, on the other hand, added 53.08 million. The newly launched Greyscale’s Dogecoin garnered $1.80 million in inflows. It was launched on November 24. 

The ETF inflows indicate the induction of fresh capital into the market and typically create buying pressure on the underlying asset, supporting price stability or upward momentum. The increased institutional exposure through ETFs is anticipated to create a rebound soon.

Also Read: Bitcoin Price Prediction Today: Will BTC Form a Market Bottom Today?

How is the Crypto Market Faring Now?

The crypto market cap decreased and touched $2.99 trillion. The Fear and Greed Index value of 15 indicates the sustaining pressure. The market cap was 4 trillion when Bitcoin reached a new all-time high of $126k. The market volatility continues with Bitcoin slightly edging up in the past 24 hours. The BTC open interest rate fell by 1.59% in the past 24 hours. Nevertheless, most of the drop came from perpetuals, indicating that short-term traders are pulling back while long-term positions are adding. Combined with increased ETF inflows crypto market may rebound soon, with BTC leading the uptrend. Even so, the investors are advised to remain cautious as the price movements hinge on macroeconomic factors as well.