CandleFocus

Crypto ETFs continue positive momentum with $321 million net inflows

Crypto exchange-traded funds (ETFs) saw a second consecutive week of inflows, with a total of $321 million. Bitcoin ETFs accounted for the majority of the inflows, receiving $284 million. Ethereum products, on the other hand, experienced five consecutive weeks of negative net outflows, losing $29 million. The inflows were driven by a 50 basis point interest rate cut by the Federal Open Market Committee (FOMC). The US and Switzerland saw the highest inflows, while Germany, Sweden, and Canada experienced outflows. Bitcoin ETFs continued to lead in terms of inflows, with Bitcoin trading just above $63,000 and showing potential for further highs. Ethereum ETFs, however, continued to see outflows.

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