The U.S. saw a significant inflow into spot Bitcoin ETFs on October 15, with a total of $371 million in net inflows recorded. The most substantial contribution came from BlackRock’s IBIT ETF, which alone saw an inflow of $289 million. This surge in Bitcoin demonstrates growing investor confidence in the largest cryptocurrency. Meanwhile, the picture for Ethereum is quite different, as spot Ethereum ETFs experienced a net outflow of $12.7 million during the same period.
Increasing Interest in Bitcoin
The strong demand for spot Bitcoin ETFs reflects the growing expectations of investors for the top cryptocurrency. The recent spike in new spot crypto ETF applications is fueling appetite for Bitcoin. The entry of giants like BlackRock is particularly boosting institutional confidence in Bitcoin. With the $371 million inflow, analysts believe this could signal an upward trend in Bitcoin’s price.
Ethereum’s Decline Continues
On the other hand, spot Ethereum ETFs saw a net outflow of $12.7 million, indicating investor hesitation. Unlike Bitcoin, Ethereum is not seeing the same positive sentiment in the spot ETF market, suggesting a shift in investor focus toward Bitcoin. This divergence in the market reveals changing expectations in the crypto world. If the pressure on Ethereum persists, Bitcoin may continue to capture an even larger market share.
As Bitcoin enjoys strong inflows, raising expectations of a price surge, Ethereum’s outflows show that investors are choosing a more cautious approach. This divergence between these two crypto giants could lead to significant opportunities and risks in the coming period.
According to the latest data, Bitcoin has risen by 2.54% in the last 24 hours, trading around $67,000, while Ethereum has only seen a 0.10% rise, trading at $2,610 during the same period.
For more updates on the shifting crypto landscape, follow Dey There for detailed insights and analysis.
itcoin ETFs, Ethereum outflows, BlackRock IBIT ETF, cryptocurrency market, Bitcoin price, Ethereum
For advertising inquiries, please email . [email protected] or Telegram
