Bitcoin and Ethereum ETFs see mixed flows.
(Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
Bitcoin ETFs now hold $55.15 billion in net assets or 4.67% of BTC’s market cap.
Grayscale’s primary BTC and ETH funds have seen a combined $23.14 billion in cumulative net outflows.
Ethereum ETFs command $6.47 billion in net assets or 2.27% of ETH’s market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have seen mixed results as bearish market conditions sweep the markets.
Bitcoin ETFs
As per SoSoValue, Bitcoin ETFs have seen a third day of outflows this week, collectively shedding $120.76 million on Oct. 10, 2024.
Bitcoin ETF flows. Source: SoSoValue
Leading the losses, Fidelity’s Wise Origin Bitcoin Fund (FBTC) shed $33.79 million from its portfolio. Close behind, the ARK 21Shares (ARKB) Bitcoin ETF posted $30.30 in net outflows.
The Grayscale Bitcoin Mini Trust (BTC) saw its fourth-ever day of outflows following a nine-day neutrality streak. With $21.16 million recorded in exits, this would be the fund’s largest day of outflows since launching on July 31, 2024.
Grayscale’s Bitcoin Trust (GBTC) also saw outflows, losing a further $18.52 million from its outflow-ridden fund. To date, GBTC has seen $20.17 billion in cumulative net outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) posted a modest $10.83 million in net outflows. This marks its fifth-ever day of outflows. IBIT has seen a wildly impressive $21.7 billion in cumulative net inflows.
Finally, the Bitwise Bitcoin ETF (BITB) shed $6.16 million from its fund.
Ethereum ETFs
According to SoSoValue data, Ethereum ETFs saw a rare day of inflows, bagging a collective $3.06 million, and the results are interesting.
Ethereum ETF flows. Source: SoSoValue
Up top, BlackRock’s iShares Ethereum Trust (ETHA) captured $17.85 million in net inflows, raising its cumulative net inflow to a solid $1.21 billion.
The Grayscale Ethereum Mini Trust (ETH) made an increasingly rare appearance, bagging a humble $3.34 million. Grayscale’s spin-off fund has seen just $297.87 million in cumulative net inflows since launch.
Pushing the figures into the red, Fidelity’s Ethereum ETF (FETH) saw a rare day of outflows, posting $3.54 million in fund exits. Close behind, the Bitwise Ethereum ETF (ETHW) saw $4.23 million in outflows.
Finally, the Grayscale Ethereum Trust (ETHE) was the loss leader for the day, with $10.37 in net outflows. Since its launch, ETHE has seen $2.97 billion in cumulative net outflows and not a single day of inflows.
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.
