Bitcoin ETFs See $1B Inflows as BTC Nears $100K, ETH ETFs Struggle Still

• U.S. Bitcoin ETFs command $105.91 billion in BTC or 5.46% of its market cap.
• Major institutional investors are the primary driving force behind BTC’s push toward $100,000.
• U.S. Ethereum ETFs hold $9.77 billion in ETH or 2.42% of its market cap.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETF) are experiencing another wave of gigantic inflows. Ethereum (ETH) funds seem to be missing out on the action, though their performance is often spoiled by one or two funds.

Bitcoin ETFs

As per SoSoValue, Bitcoin ETFs saw another gigantic day of inflows totaling $1 billion  on Nov. 22, 2024. So far this week, BTC ETFs have pulled a combined $2.8 billion.

BlackRock’s iShares Bitcoin Trust (IBIT) takes today’s top spot with $608.41 million in net inflows. The fund’s cumulative net inflows now stand at $30.82 billion, commanding $47.92 billion in net assets.

The Fidelity Wise Origin Bitcoin Fund (FBTC) captured $300.95 million, bringing the second-best-performing BTC ETF’s cumulative net inflows to $11.52 billion and net assets to $19.54 billion.

The Bitwise Bitcoin ETF (BITB) netted a cool $68 million, followed by the ARK 21Shares Bitcoin ETF (ARKB), which had $17.18 million in net inflows.

Grayscale’s Bitcoin Mini Trust saw a modest $6.97 million in net inflows, as did the Franklin Templeton Digital Holdings Trust (EZBC) with $5.7 million. Finally, the VanEck Bitcoin ETF (HODL) bagged $5.7 million,.

Unable to get in on the action, Grayscale Bitcoin Trust (GBTC) posted $7.81 million in outflows, bringing its cumulative net outflow to $20.26 billion.

Ethereum ETFs

According to SoSoValue data, Ethereum ETFs have struggled to break from a renewed outflow streak, shedding a combined $9.05 million  as feverish BTC ETF trades soak up investor interest.

Leading today’s gainers, Fidelity’s Ethereum Fund (FETH) pulled a solid $16.79 million, raising its cumulative net inflow to $698.62 million.

Bitwise Ethereum ETF (ETHW) takes second place, tallying $2.89 million to its portfolio. It’s closely followed by the VanEck Ethereum Trust (ETHV), which garnered $2.46 million in net inflows.

Bringing the day’s flows into the red is a rare and unfortunate double trouble for Grayscale, as its Ethereum Mini Trust sheds $4.11 million and a further $27.08 million in exits from the Grayscale Ethereum Trust (ETHE).

Grayscale’s GBTC hasn’t seen a single day of inflows since launching, and hopes that its Mini Trust could see conversions or draw fresh investor interest appear to be dying out fast.

However, until Bitcoin ETF inflows cool off — if they ever will — ETH ETFs will continue to brew quietly and somewhat successfully in the background.