240 Million Dollar Inflow in Bitcoin and Ethereum ETFs

After a six-day period of decline, a promising development has occurred for Bitcoin and Ethereum investors. On Thursday, a total net inflow of 240 million dollars was recorded into spot Bitcoin ETFs in the U.S. This indicates that investor interest in the markets remains strong.

Spot Bitcoin ETFs have once again become favorites among investors following the ongoing selling pressure. According to SoSoValue data, as of Thursday, the new inflow into spot Bitcoin ETFs primarily came from BlackRock's iShares Bitcoin Trust (IBIT). IBIT alone received 112.4 million dollars in inflows, while Fidelity’s FBTC fund attracted 61.6 million dollars, and Ark & 21Shares’ ARKB fund saw 60.4 million dollars in new investments. Additionally, Bitwise’s BITB fund managed to attract 5.5 million dollars in new investment.

With these new inflows, a new capital influx has been observed toward ETFs, which had experienced a total outflow of 2.05 billion dollars over the last six days. This development is notable considering the current state of Bitcoin prices. The Bitcoin price is trading at around 101,919 dollars, having lost 7% in value on a weekly basis, while the Ethereum price has decreased by 1.2% over the last 24 hours, dropping to 3,345 dollars.

Additionally, Ethereum ETFs recorded a net inflow of 12.5 million dollars on the same day. This shows that Ethereum investors are maintaining their confidence and commitment to the markets.

On the other hand, JPMorgan analysts predict that Bitcoin's price could reach 170,000 dollars within the next 6 to 12 months. This prediction is based on a comparison between Bitcoin's volatility and that of gold. Recent developments could represent a significant turning point for investors in the markets.