Spot bitcoin ETFs Break Eight-Day Outflow Streak with $28M Inflows
Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a positive turn of events on Monday as they saw a total of $28.72 million in net inflows, putting an end to an eight-day streak of negative flows. Fidelity’s FBTC led the pack with $28.6 million in inflows, closely followed by Bitwise’s BITB, which added $21.99 million to its coffers, according to data from SoSoValue.
While other funds saw smaller gains, Ark Invest and 21Shares’ ARKB managed to pull in $6.81 million, and Invesco’s BTCO recorded $3.14 million in net inflows, contributing to the overall positive performance of the day.
Grayscale’s GBTC Sees Continued Outflows
Despite the overall positive trend for bitcoin ETFs, Grayscale’s GBTC continued to face challenges, reporting $22.76 million in outflows. Additionally, BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, also experienced $9.06 million in outflows on the same day, marking a consistent downward trend since August 26.
These contrasting movements within the bitcoin ETF market reflect the evolving dynamics and investor sentiment surrounding digital assets.
bitcoin ETFs Record Total Daily Trading Volume of $1.61B
The 12 bitcoin ETFs present in the U.S. recorded a total daily trading volume of $1.61 billion on Monday, reflecting a slight decline from $2.39 billion observed on the previous Friday. Since their launch in January 2024, these ETFs have collectively attracted $16.92 billion in cumulative net inflows, indicating sustained interest from investors.
As highlighted in a recent tweet by Wu Blockchain, the bitcoin spot ETF captured significant attention on September 9, with a total net inflow of $28.7196 million. However, other assets like Grayscale ETF GBTC and Fidelity ETF FBTC faced outflows and inflows, respectively, shaping the overall landscape of digital asset investment products.
Spot Ether ETFs Face Fifth Consecutive Day of Outflows
While bitcoin ETFs portrayed a mixed picture, spot ethereum ETFs reported consistent outflows for the fifth day in a row on Monday. Grayscale’s ETHE led the outflows with $22.64 million, while Grayscale ethereum Mini Trust (ETH) attracted $7.97 million in inflows. Fidelity’s FETH and Bitwise’s ETHW also saw modest inflows during the day.
Despite the challenges faced by spot ethereum ETFs, the total net assets for ethereum ETFs remain over $6 billion, indicating a significant market presence and investor interest in the ethereum ecosystem.
Trends in crypto-Related ETF Market
Overall, the crypto-related ETF market continues to showcase dominance, with new offerings gaining traction among investors. Out of the 400 new ETFs launched in 2024, the top four spot bitcoin ETFs have captured significant market share.
Notable offerings such as BlackRock’s iShares bitcoin Trust, Fidelity’s Wise Origin bitcoin Fund, ARK 21Shares bitcoin ETF, and Bitwise’s bitcoin ETF Trust have emerged as popular choices among investors, indicating a growing appetite for digital assets in the traditional financial market.
Similarly, the iShares ethereum Trust ETF has made a significant impact, becoming the seventh-largest ETF launch of 2024 and surpassing $1 billion in inflows as of August. These developments underscore the evolving landscape of digital asset investments and the increasing integration of cryptocurrencies into mainstream financial products.
