Bitcoin funds attracted $433 million in new capital on Friday, and this influx had a positive reflection on the state of the cryptocurrency market worldwide. According to data from the SoSoValue platform, the net capital inflow for these funds reached $6.2 million in the week ending September 18, which seems significant despite the $462.7 million outflow the previous week.
Status of Ethereum Funds
While Ethereum exchange-traded funds attracted $143.8 million on Friday, they faced a total capital outflow of $140 million over the week. This trend marks the end of a four-week period of net capital inflow into these funds, during which $1.94 billion had been invested.
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In an effort to compensate for the capital outflow on Tuesday and Wednesday, Bitcoin funds saw inflows of $160 million on Monday and $159.5 million on Thursday, joining a $426.8 million capital reduction for the week. The $433 million inflow on Friday marks the highest daily inflow to these funds since September 3.
Performance of Major Funds
The Fidelity fund accounted for $310.7 million of the capital inflow on Friday, while the BlackRock fund successfully attracted $108.4 million. Overall, the BlackRock iShares Bitcoin Trust (IBIT) led with $120.7 million in capital raised.
However, for the week as a whole, other Bitcoin funds faced an outflow of approximately $194.4 million, resulting in a net capital inflow of only $6.2 million for the entire group. This year, Bitcoin funds have experienced a net capital outflow of about $1.45 billion, bringing their net asset value to $102.53 billion.
Ethereum funds also reversed their four-week capital inflow trend with an outflow of $404.8 million from Tuesday to Thursday. Despite the inflows on Monday and Friday, this outflow was not sufficient to compensate, and ultimately, these funds remain positive with a net inflow of $922 million this year.
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