blockchainreporter.net
Bitcoin spot ETFs reportedly saw huge net flows on the 21st of November. As per the data from SoSoValue, Bitcoin ($BTC) exchange-traded funds recorded $1.005B in cumulative inflows while Ethereum ($ETH) ETFs witnessed -$9.05M in outflows. Bitcoin’s substantial inflows indicate growing appeal among institutional investors.
$BTC ETFs Record $1.00B in 1-Day Net Inflows with $IBIT Accounting for $608.41M
In line with the data, the single-day ETF inflows of Bitcoin reached $1.00B on November 21. The list of the top $BTC spot gainers includes $IBIT, $FBTC, and $BITB. Hence, $IBIT cumulatively added $608.41M to lead the ETF market. Following that, $FBTC’s net inflows touched $300.95M. Moreover, $BITB added $68.00M on the same day.
Moreover, $ARKB, $BTC (Grayscale Bitcoin Mini Trust), $EZBC, and $HODL included $17.18M, $6.97M, $5.70M, and $5.56M respectively. On the other hand, $BRRR, $BTCO, $BTCW, and $DEFI saw no flows at all. Despite this, the total inflows of the Bitcoin spot ETFs reflect an increasing optimism among the investors.
$ETH ETFs See -$9.05M in Single-Day Outflow, Signifying a Sentiment Shift
In contrast, Ethereum spot ETFs experienced massive outflows. The net outflows of $ETH ETFs reached $9.05M on November 21. Individually, just 3 Ethereum ETFs made inflows, including $FETH, $ETHW, and $ETHV. They added $16.79M, $2.89M, and $2.46M respectively. Contrarily, $ETHE and $ETH recorded outflows of $27.08M and $4.11M respectively. However, the rest of the 4 Ethereum ETFs, including $ETHA, $EZET, $QETH, and $CETH made no flows.
Keeping in view the overall ETF market scenario, the $BTC $ETFs are getting more and more attention to result in broader implications. This marks a shift in investor interest from Ethereum to Bitcoin. Nevertheless, irrespective of declining attention toward Ethereum ETFs, the spiking market status of Bitcoin ETFs further improves market stability and liquidity for institutional investors.