Bitcoin ETFs Break 4-Day Inflow Streak, Ethereum ETF Outflows Ongoing

• Bitcoin ETFs now command $54.85 billion in net assets or 4.61% of BTC’s market cap.
• Ethereum ETFs hold $6.3 billion in net assets or 2.25% of ETH’s market cap.
• Grayscale’s primary BTC and ETH funds have over $22.84 billion in combined outflows.

U.S. spot Bitcoin (BTC) and Ethereum (ETF) exchange-traded funds (ETFs) are in the red, but the U.S. Feds decision to reduce interest rates could see funds blossom from tomorrow.

Bitcoin ETFs

According to data from SoSoValue, Bitcoin ETFs ended their 4-day inflow streak  on Sept 18., shedding $52.82 million.

Amongst a mostly neutral or negative day of flows, an unlikely fund saw net inflows, the Grayscale Mini Bitcoin Trust (BTC). With a very modest $2.66 million tallied onto its portfolio, the fund has seen $385.25 million in cumulative net inflows since its July 31 debut.

As for outflows, the ARK 21Shares Bitcoin ETF (ARKB) suffered the largest losses, posting $43.41 million in outflows. The Grayscale Bitcoin Trust (GBTC) was reliably in the red, posting a low $8.13 million in exits, bringing its cumulative net outflow to a sore $20.07 billion. Finally, the Bitwise Bitcoin ETF (BITB) tallied $3.95 million in net outflows.

Ethereum ETFs

As per SoSoValue data, Ethereum ETFs are running mostly neutral.  On Sept. 18, they posted $9.74 million in net outflows, marking day three of their outflow streak.

It was another day of quiet for Ethereum funds. The only gainer for the day was the BlackRock iShares Ethereum Trust (ETHA), which netted $4.92 million in cumulative net inflows.

So far, ETHA has been the top-performing ETH ETF by cumulative net inflows, which now stand at $1.03 billion. Perhaps highlighting the tepid appetite for Ethereum ETFs, ETHA hasn’t seen inflows exceeding $100 million since Aug. 6. Since then, flows have been either neutral or exceedingly low.

As for outflows, the Grayscale Ethereum Trust (ETHE) posted $14.66 million in exits, bringing its cumulative net outflows to $2.77 billion. Having not seen a single day of inflows, ETHE’s outflows have almost cut the fund’s net assets in half.

Bitcoin (BTC) Up

In a surprising turn of events, Bitcoin shot up in value overnight. After a month of bearish trading that pushed it down to the $55,000 price range, BTC has finally broken above $60,000 and is now trading at $62,083.

The price hike is believed to be partially attributed to the U.S. Federal Reserve’s decision to reduce interest rates for the first time in four years. Interestingly, Polymarket bettors are wagering  that further reductions are on the cards, with 66% backing a further 25 bps decrease on Nov. 7 and even more  on Dec. 18.

Fascinatingly, a Polymarket bet opened on Sept. 13 , asking if BTC will be above $60,000 on Sept. 20, has over $500,000 wagered on it. Seemingly, a majority of bettors are confident, with 87% saying yes.

About the Author

Eddie Mitchell

Eddie has been writing news and content primarily for crypto news and industry players over the past seven years. With an eye for the bigger picture, Eddie prefers to investigate the broader implications of a story, as well as explore the weird and wonderful world of crypto. He believes blockchain has already changed the world, but observes the space overall with a skeptical and adoring eye.

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