Following the approval of the US-based spot Bitcoin exchange-traded funds (ETFs) in January 2024, the crypto crowd felt it was only a matter of time before other similar products received the green light. Barely six months after the BTC ETF trading debuted, the Ethereum exchange-traded funds were also launched in the United States.

While the Bitcoin ETFs got off to a strong start at the beginning of the year, their Ethereum counterparts had quite a shaky beginning after launch. However, it appears that both the BTC and the ETH exchange-traded funds have piqued the interest of investors in the United States.

Bitcoin ETFs Record 12th Straight Day Of Positive Inflows

According to the latest market data from SoSoValue, the US-based spot Bitcoin ETFs registered a total net inflow of $429 million on Friday, December 13. This marked the 12th consecutive day the crypto products have experienced a net capital inflow.

Unsurprisingly, BlackRock’s iShares Bitcoin Trust (with the ticker IBIT) was responsible for a significant portion of Friday’s capital influx. The leading BTC exchange-traded fund added more than $393 million in value to close the week.

Fidelity’s FBTC came in second with nearly $60 million capital inflow, followed by Bitwise’s BITB $33.2 million influx. Ark & 21Shares’ ARKB and VanEck’s HODL also registered $28.41 and $8.62 million, respectively.

Source: SoSoValue

It is worth mentioning that Grayscale’s GBTC was the only fund that recorded an outflow, with $105.76 million withdrawn on the day. Nevertheless, the $428 million single-day performance brought the Bitcoin ETFs’ weekly record to $2.17 billion.

As of this writing, BTC is valued at around $101,367, with no significant change in the last 24 hours. According to CoinGecko data, the premier cryptocurrency is up by about 2

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Author: Opeyemi Sule