The Bitcoin and Ethereum ETF party is in full swing, and it's been quite the ride! Ever since Donald Trump clinched the presidential seat, US investors have been going all in on spot Bitcoin ETFs, and the trend has been unstoppable for five days straight.
Bitcoin ETFs are having a blast, breaking records left and right with impressive net inflows in their debut year. BlackRock's IBIT is stealing the spotlight, quickly becoming a crowd favorite. Over the past five trading days, these funds have raked in a whopping $2.167 billion, proving that investors just can't get enough.
Each day of the week added more fuel to the Bitcoin ETF fire – with figures like $489.1 million on Monday and a staggering $597.5 million on Thursday. Even though it's slightly less than last week's haul, over $2 billion in a few days is still a jaw-dropping feat!
Leading the charge, IBIT dominated four days of trading with massive inflows, only stepping aside on Wednesday when Fidelity’s FBTC took the limelight with $121.9 million. These hefty investments have nudged Bitcoin's price up by 3%, getting it tantalizingly close to a new all-time high.
Ethereum ETFs have also been riding the wave of success, shaking off a sluggish start and now surfing on big numbers since November 22. They've been on a roll, never looking back and not seeing a single day in the red since then. Last week alone, they attracted nearly $855 million, proving they are a force to be reckoned with.
Despite the influx of investments, Ethereum's price took a bit of a rollercoaster dip, down 2.5% for the week. It flirted with the $4,000 mark last Friday but couldn't hold onto the momentum, settling below $3,900 after a wild week.
It's clear the crypto market is alive with action, and these ETFs are at the heart of the excitement! Investors are watching closely, eager to see how these trends continue to unfold. So grab your popcorn, because the world of crypto is serving up one thrilling blockbuster after another!
