U.Today – As (BTC) updates one all-time high price after another, news is also emerging from the investment product fields focused on the leading cryptocurrency. Thus, according to the latest data from Lookonchain, the volume of injections into the portfolios of Bitcoin ETF issuers during the last day amounted to 9,363 BTC or $884.9 million.
Interestingly, the traditional leader in the form of BlackRock (NYSE 🙂 and its IBIT Bitcoin ETF lost first place to ARK Invest with its ARK 21 Shares Bitcoin ETF, which added 2,871 BTC to its balance. BlackRock itself recorded inflows of 2,321 BTC during the period analyzed.
This is not even the second result, which was for Fidelity Intelligent (LON:) Origin Bitcoin Fund with 2,753 BTC. Other players in the Bitcoin ETF space recorded comparatively smaller inflows.
As of today, BlackRock has 474,276 BTC on its balance sheet. In second place is Fidelity with 194,078 BTC. Rounding out the top three is ARK Invest with 21 stocks and a combined holding of 49,699 BTC. The state of the market is eloquently illustrated by data on flows into ETFs.
When is altcoin season?
While Bitcoin refreshes its price highs, Ethereum refreshes its lows against the top cryptocurrency not seen since 2021. Similarly, on the investment products front, data from Lookonchain shows that Ethereum ETFs have experienced outflows of 26,071 ETH, equivalent to $81.16 million, in the past. 24 hours.
So far, the trend is obvious: all the money and attention is flowing towards the main cryptocurrency, and altcoins with Ethereum as the headliner, as a consequence, remain overboard, and although we can see some positive signs, we cannot imagine that remain stable. .
This article was originally published on U.Today.
