It is no longer news that the crypto market has taken an unprecedented bullish swing, as evidenced by the crypto assets and exchange-traded fund (ETF) commodities recording new heights.
According to tweets circulating, Bitcoin (BTC) and Ethereum (ETH) ETFs amassed net gains in the just-concluded week. For context, the weekly profits stemmed from estimating inflows and outflows between November 11 and 15.
Bitcoin ETFs See Over $1 Billion Profits
According to SosoValue’s statistics, Bitcoin ETFs were profitable on three out of five occasions. The entity welcomed gains on November 11, 12, and 13, while the last two days witnessed losses.
It is worth noting that the highest inflows occurred on November 11, with $1.11 billion, while the highest outflows occurred on November 14, with the entities shedding $400.67 million.
Despite seeing losses twice, the ETFs ended the week with net profits valued at about $1.67 billion. With the most recent data, the commodities have witnessed weekly gains for the sixth consecutive time, signifying remarkable runs.
In addition, Bitcoin ETFs‘ cumulative total net inflows have soared to about $27.46 billion. Their total value traded and net assets also spiked considerably to approximately $3.62 billion and $95.41 billion, respectively.
Meanwhile, BlackRock Bitcoin ETF (IBIT) has continued to impress with impressive figures. The entity attracted roughly $1.89 billion in inflows between November 11 and 15.
Bitcoin spot ETF had a net inflow of 1.67 billion US dollars from November 11 to November 15 last week, with net inflows for six consecutive weeks. BlackRock ETF IBIT had a weekly net inflow of 1.89 billion US dollars.https://t.co/YanotfbWiJ pic.twitter.com/QBGdsu1szu
— Wu Blockchain (@WuBlockchain) November 18, 2024
ETH ETFs Set New Record with Latest Weekly Report
Like Bitcoin, Ethereum ETFs registered weekly net profits, with three gainful outings out of five. The Ethereum commodities welcomed $515.17 in net inflows for the just-concluded week. The over $500 million weekly gain became the entity’s highest-ever profits since its inception.
Moreover, between November 11 and 15, ETH ETFs’ highest inflows were about $295.48 million, while their highest outflows were about $59.87 million. Consequently, cumulative total net inflows were roughly $178.40 million. The total value traded was $529.9 million, while total net assets reflected $9.15 billion.
It is worth noting that during the just-concluded week, BlackRock Ethereum ETF (ETHA) and Fidelity Ethereum ETF (FETH) contributed the highest inflows. ETHA attracted roughly $287 million, while FETH welcomed $199 million in gains.
Ethereum spot ETF had a weekly net inflow of $515m from November 11 to November 15, reaching a record high for a single week. Blackrock ETF ETHA had a weekly net inflow of $287m, and Fidelity ETF FETH had a weekly net inflow of $199m.https://t.co/Tvs2oCSxTg pic.twitter.com/W6eI4f9mmD
— Wu Blockchain (@WuBlockchain) November 18, 2024
