Spot Bitcoin ETF Records $553M Inflows, Ethereum Rebounds Strong

Spot Bitcoin ETF Leads With Heavy Inflow While Ethereum Shows Recovery

Spot Bitcoin ETF Surge with Massive Inflows

Spot Bitcoin ETF are making waves in the world of cryptocurrency, signaling strong investors confidence. As per the latest data recorded by Soso value, on September 12 Bitcoin ETF saw a daily total net inflow of $552.78 million with a total asset value of $149.64B with a 6.57% of coin's market cap. 

Whereas one day back it reached $757.14million, saw this surge after a little inflow of $24 million recorded on September 9. On the other hand the Cumulative inflow as of Sep 11 is $56.19 billion with a total volume traded at $2.83 billion. 

Source: Soso value 

The BlackRock (IBIT) emerged as the leader with the daily sum net inflow of $366.20 millions  with a cumulative net influx of $59.51 billion, Fidelity (FBTC) at second with sum influx of $134.72 million and Bitwise (BITB) at third with $40.43 million. 

Effect on Bitcoin price

These green signals of BTC ETFs, boosting market confidence. As the coin is currently trading around $115k and in the past 7 days the prices were nearly around $110k. This shows if BTC exchange traded funds keep giving positive signals, it directly impacts on the prices too. 

Although the digital gold's  prices are up today with 0.9% in a day, as the spot Bitcoin ETF saw a heavy influx of $366M, led by BlackRock’s IBIT and 

Exchange stablecoin reserves hit $70B which signals latest buying power. 

Spot Ethereum ETFs recorded $113k inflow

From showing outflows from 6 days with highest outflow of $446.71M the Ethereum ETFs are showing positive signals since the last 3 days. On September 11, the overall net influx recorded was $113.12M , having a total asset value of $28.51B which is  5.35% of Ethereum Market Cap. 

Source: Soso value 

BlackRock (ETHA) showed major outflow with $17.39 millions whereas Fidelity (FETH) is taking the lead with a net inflow of $88.34M. Currently the coin is trading around $4,519 with a rise of 2.2% in 24hours. 

Conclusion 

BTC and ETH xchange Traded Funds are in a race for dominance. BTC ETF leads with massive inflows whereas ETH Exchange Traded Funds are bouncing back after heavy outflows . If momentum continues then BTC holds the edge but ETH ETFs are catching up fast.