NEW
Bitcoin and Ethereum ETFs Show Strong Inflows on January 6, 2025 | Flash News Detail | Blockchain.News
Latest Update
1/6/2025 4:55:28 PM

Bitcoin and Ethereum ETFs Show Strong Inflows on January 6, 2025

Bitcoin and Ethereum ETFs Show Strong Inflows on January 6, 2025

According to @lookonchain, on January 6, 2025, Bitcoin ETFs experienced net inflows of +9,014 BTC valued at +$923.45 million, with Fidelity leading with inflows of 3,625 BTC ($371.39 million). Ethereum ETFs also saw net inflows of +10,706 ETH valued at +$39.98 million, with iShares (Blackrock) contributing significantly with 9,389 ETH ($35.06 million).

Source

Analysis

On January 6, 2025, Bitcoin ETFs recorded a net inflow of 9,014 BTC, which translates to a monetary value of $923.45 million. The source indicates that Fidelity was a major contributor to these inflows, adding 3,625 BTC, valued at $371.39 million. As of this date, Fidelity's holdings stood at 205,510 BTC, amounting to a total of $21.05 billion (@lookonchain).

The trading implications of these inflows are significant. The increased demand for Bitcoin through ETFs could indicate a bullish sentiment among institutional investors. The large inflow from Fidelity alone suggests a strong confidence in Bitcoin's future price movements. This data is particularly relevant for traders focusing on BTC/USD trading pairs, as the increased demand could lead to upward pressure on Bitcoin's price. The total holdings by Fidelity at over $21 billion further underscores the institutional interest in Bitcoin (@lookonchain).

Analyzing the technical indicators, the net inflow of 9,014 BTC on January 6, 2025, reflects a significant increase in trading volume for Bitcoin ETFs. The volume surge, coupled with the positive net inflow, suggests a potential shift in market dynamics. Additionally, the Ethereum ETFs recorded a net inflow of 10,706 ETH, valued at $39.98 million, with iShares (Blackrock) contributing 9,389 ETH, valued at $35.06 million. As of this date, iShares holds 1,080,804 ETH, totaling $4.04 billion. These figures highlight the growing interest in Ethereum as well, which could influence ETH/USD trading pairs and related market indicators (@lookonchain).

Lookonchain

@lookonchain

Looking for smartmoney onchain