Bitcoin, Ether ETFs hit $1.1B inflows as ‘Uptober’ buzz builds
The post Bitcoin, Ether ETFs hit $1.1B inflows as ‘Uptober’ buzz builds appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum exchange-traded funds (ETFs) staged a sharp rebound in the latest trading session. These crypto ETFs managed to pull in nearly $1.1 billion in combined inflows, snapping a week-long stretch of weakness that added to the selling pressure. The global digital asset market is still flooded with mixed sentiments as Bitcoin price jumped to trade above $114,000 level from $112,000 zone in the last 24 hours. Meanwhile, it dipped back to $112,000 a few hours ago. The Fear and Greed index is flashing “Neutral” sentiments among the traders. Still, analysts flagged $115,000 as the key resistance level that must be cleared to confirm a broader breakout. Bitcoin ETFs pull in $522M Data shows that Ethereum products led the surge with $547 million of net inflows. It ended five straight days of sell-off. Fidelity’s FETH drew the largest share at $202 million, followed by BlackRock’s ETHA with $154 million. Grayscale’s ETHE, Bitwise’s ETHW, and VanEck’s ETHV also posted solid inflows. However, overall trading volumes slipped to $1.89 billion, bringing total net assets to $27.5 billion. Ethereum price has dropped by 7% over the past 30 days, but it is still up by 25% on a year-to-date (YTD) basis. ETH is trading at an average price of $4,155 at press time. Bitcoin ETFs were not far behind as they pulled in $522 million of fresh money, according to SoSovalue data. They managed to reverse a two-day outflow streak. Fidelity’s FBTC once again stood out, accounting for $299 million of the total inflow. Grayscale’s GBTC brought in $27 million. BlackRock’s IBIT was the only fund to record net outflows. The inflows came as Bitcoin bounced off $108,000 support to reclaim $113,000, climbing back above its 50-day moving average. Technical indicators offered mixed signals, and seasonality is also in play. October has…
