Bitcoin ETFs are running hot. Ethereum ETFs remain quiet.
(Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
Bitcoin ETFs hold $63.13 billion in BTC or 4.8% of its market cap.
Grayscale’s primary BTC and ETH ETF outflows now total $23.14 billion.
Ethereum ETFs have $7.1 billion in ETH, or 2.29% of its market cap.
U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) have drawn over $920 million in net inflows this week. Meanwhile, Ethereum (ETH) funds are seeing little activity.
Bitcoin ETFs
As per SoSoValue data, Bitcoin ETFs are on an inflow streak, bagging $371.02 million on Oct. 15. Since last Friday, BTC ETFs have seen over $1.1 billion in net inflows.
Bitcoin ETF flows. Source: SoSoValue
Taking home roughly two-thirds of the day’s inflows, BlackRock’s iShares Bitcoin Trust (IBIT) tallied $288.84 million to its fund. IBIT’s cumulative net inflows now stand at $22.07 billion.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) netted a cool $35.03 million in net inflows, followed by ARK 21Shares Bitcoin ETF (ARKB) with $14.68 million.
The Grayscale Bitcoin Mini Trust (BTC) captured $13.36 million. In a rare double victory, Grayscale’s Bitcoin Trust (GBTC) also saw inflows, securing a humble $7.99 million.
As for the other gainers, VanEck’s Bitcoin ETF (HODL) saw inflows of $7.56 million, WisdomTree’s Bitcoin Trust (BTCW) added $2.84 million, and the Bitwise Bitcoin ETF (BITB) netted just $727,820.
All other funds flowed neutral.
Ethereum ETFs
The excitement from Bitcoin ETFs hasn’t trickled down into Ethereum ETFs, which saw little action, posting $12.7 million in net outflows on Oct. 15.
Ethereum ETF flows. Source: SoSoValue
The sole gainer for the day was Fidelity’s Ethereum Fund (FETH), which scored $2.59 million in net inflows. Under BlackRock’s ETH fund, FETH is the second-best-performing fund among competitors.
The Grayscale Ethereum Trust (ETHE) dragged the day’s results down, seeing $15.29 million in net outflows. ETHE hasn’t seen a single day of inflows and just eleven days of neutrality—its cumulative net outflows now total $3 billion.
After seeing a brief glimmer of hope yesterday following a sturdy $17 million in net inflows, ETH ETF flows continue to run sideways. Ethereum ETF daily trading volumes sunk in August and have averaged around $100 million to $200 million since then.
There may come a time when ETH funds blow up in a ‘proportionate’ or at least similar fashion to BTC ETFs, though for one reason or another, it doesn’t seem to be happening any time soon.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
