Bitcoin ETF Flows Soar to 4-Month High as Total AUM Hits Massive Milestone

The recent resurgence in bitcoin prices can be largely attributed to surging inflows into domestic BTC ETFs in the United States, as the products saw their best three-day period since June.

At the same time, the landscape around Ethereum ETFs is quite different, once again.

Bitcoin ETFs are on the rise

Whether it’s the growing odds that self-proclaimed pro-crypto US presidential candidate Donald Trump will win the upcoming election or there’s another reason, investors have shifted their overall outlook towards spot Bitcoin ETFs in the last days

FarSide data shows massive inflows that began on Friday. After three days of net withdrawals from Tuesday to Thursday, financial vehicles saw $253.6 million poured in on Friday, $555.9 million on Monday and $371 million yesterday.

That brings the total for that period to $1.180.5 billion, which is the best three-day performance since June. Fidelity’s FBTC and Bitwise’s BITB led the pack on Monday, with $239.3 million and $100.2 million, respectively. BlackRock’s IBIT took the crown yesterday, with $288.8 million in net inflows.

Accordingly, CryptoQuant determined that the total AUM of all US-based BTC ETFs has reached a massive milestone of approximately $60 billion at current prices.

Bitcoin ETF and AUM entries. Source: CryptoQuant

These impressive ETF numbers are perhaps the most likely reason behind the recent rally in BTC prices. After all, the asset had fallen below $59,000 last Thursday and is currently up 13.5% at $67,000.

Familiar landscape around ETH ETFs

While local Bitcoin ETFs continue to enjoy massive demand, the same cannot be said for their Ethereum counterparts. Spot ETH ETFs continue to struggle for attention and have been in the red since their inception in late July due to significant grayscale fund exits.

Last week saw two days of no real trading activity and some negligible entries. The start of the current trading week was slightly more positive, with $17 million in net inflows on Monday, but net outflows of $12.7 million were recorded on Tuesday.

However, the price of ETH has also soared since last Thursday’s dump and is up 7% on a weekly basis. As of now, the second-largest cryptocurrency is hovering above $2,600 after rising 14% in the past month.

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