Bitcoin and Ethereum ETFs Witness Massive Single-Day Inflows
On September 12,bitcoin and Ethereum spot ETFs experienced an unprecedented surge. total net inflows reached $1.048 billion,highlighting robust institutional interest.
Bitcoin ETFs took the lead, attracting $642 million. This boosted their cumulative inflows to $56.8 billion.Meanwhile, Ethereum ETFs secured $405 million in inflows, bringing their total to $13.36 billion.
The picture for Ethereum ETFs has been especially dynamic.After enduring $787.74 million in outflows last week, the ETFs reversed trends, drawing $637.69 million back in through the week ending September 12.
- The single-day $405.41 million inflow for Ethereum ETFs is one of the strongest ever seen.
- Weekly data reflects this upward trend, with Bitcoin ETFs reporting $2.34 billion in inflows, a 10-fold increase from the previous week’s $246.42 million.
Analysts believe these inflows mirror positive technical signals. As an example, ethereum’s reclamation of $4,700 positions it to challenge the $4,880 resistance. A breakthrough here could open the door to new all-time highs.
Ted, an expert, notes that if Ethereum falls short at $4,880, a market correction could follow.
similarly, Bitcoin’s recovery of its eight-year trendline marks a strong bullish signal. Analysts predict a new all-time high could occur within the next two to three weeks if bulls maintain this strength.
