Bitcoin ETF Inflows Continue Unabated with BlackRock Taking the Lead | ETF Daily Update
Crypto Update: Bitcoin ETF Inflows Shine as Market Rebounds
Bitcoin ETFs continue to impress, posting another day of net inflows on Thursday, marking the fifth straight day of this trend. With a whopping $442 million added on Thursday, the weekly net inflow now stands at a staggering $2.68 billion - the highest since early December 2024!
BlackRock's IBIT ETF saw the day's highest inflow of $327.32 million, pushing its total to a massive $40.96 billion. Close behind, Ark Invest and 21Shares' ARKB ETF edges in with a net inflow of $97.02 million, boosting its historical net inflows to an impressive $3.09 billion.
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But that's not all - the crypto market has been experiencing a modest rebound, driving BTC's price up by about 1% over the past day. Simultaneously, open interest in BTC futures has risen, signaling a growing demand amongst investors.
As of now, this stands at $65.31 billion, an increase of 1% within the day. This gradual rise, coupled with BTC's upward price movement, may suggest an uptick in market participation and confidence in the ongoing trend.
Moreover, call volumes are outpacing put volumes in the options market, reflecting a bullish sentiment. At present, the BTC put-to-call ratio stands at 0.74, implying that more call options are being bought than puts, which in turn suggests investors are gearing up for a sustained price increase.
Despite these signs, the funding rate remains negative at -0.0008%, indicating bearish sentiment as more futures traders bet on a price drop. This presents a contrast to the strong ETF demand and market metrics, which show renewed strength.
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- Bitcoin ETFs, such as BlackRock's IBIT ETF and Ark Invest's ARKB ETF, have reported significant net inflows, totalling $2.68 billion in the past week, marking a five-day streak.
- The cryptocurrency market has shown signs of a rebound, driving Bitcoin's price up by about 1% over the past day.
- Open interest in BTC futures has risen, signaling a growing demand among investors, as the crypto market rebounds.
- Call volumes are outpacing put volumes in the options market, reflecting a bullish sentiment, with the BTC put-to-call ratio at 0.74.
- Amidst this bullish sentiment, the funding rate remains negative at -0.0008%, indicating bearish sentiment as more futures traders bet on a price drop.
- Uphold allows users to access new tokens, trade easily and conveniently, and supports multiple assets, providing an ideal entry point into the crypto world.
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