Bitcoin and Ethereum ETFs pull over half a billion.
(Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
Bitcoin ETFs command $61.21 billion in net assets or 4.71% of its market cap. This is up from 4.63% on Sept. 23.
BlackRock’s BTC ETF net inflows stand at $21.42 billion, and Grayscale’s BTC ETF outflows now total $20.09 billion.
Ethereum ETFs hold $7.44 billion in net assets or 2.3% of ETH’s market cap. This figure stood at $6.92 billion on Sept. 23.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) ended last week on a high note, pulling a combined $552.92 million on Friday, Sept. 27, as a renewed optimism sweeps the crypto markets.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs wrapped last week with an enormous $494.27 million in net inflows, bringing the week’s total inflows to a sizeable $1.11 billion.
Bitcoin ETF flows. Source: SoSoValue
Closing the week out on a high, the ARK 21Shares Bitcoin ETF (ARKB) secured $203.07 million, its largest day of inflows ever. This brings ARK’s cumulative net inflow to $2.72 billion.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw $123.61 million added to its balance sheet, raising its cumulative net inflow to $9.99 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) took home $110.82 million on day 5 of its inflow streak, boosting its cumulative net inflow to a gigantic $21.42 billion.
Curiously, Grayscale’s Bitcoin Trust (GBTC) is amongst the day’s gainers, securing a cool $26.15 million in net inflows. After its first day of inflows since July 19, GBTC’s cumulative net outflows now stand at $20.09 billion.
The Bitwise Bitcoin ETF (BITB) saw $12.91 million in net inflows, followed by VanEck’s Bitcoin ETF (HODL) with $11.17 million. The Invesco Galaxy Bitcoin ETF (BTCO) and Valkyrie Bitcoin Fund (BRRR) captured $3.28 million and $3.26 million respectively.
All other funds posted neutral flows on what was a considerably successful week for Bitcoin ETFs. Meanwhile, ETH ETFs are experiencing a surge in interest.
Ethereum ETFs
As per SoSoValue, Ethereum ETFs posted $58.65 million in net inflows on Sept. 27, marking their second-ever week of net positive inflows.
Ethereum ETF flows. Source: SoSoValue
Capturing a majority of the day’s gains, Fidelity’s Ethereum Fund (FETH) posted a solid $42.54 million in net inflows, its largest since July 24. FETH is the second-best performing ETH ETF with $478.64 million in cumulative net inflows.
The leading ETH fund, BlackRock’s iShares Ethereum Trust (ETHA), tallied $11.46 million in gains, raising its cumulative net inflow to $1.13 billion. The Bitwise Ethereum ETF (ETHW) and Invesco Galaxy Ethereum ETF (QETH) pulled $5.43 million and $4.32 million, respectively.
Trailing behind, the Grayscale Ethereum Mini Trust (ETH) jotted $2.29 million in net inflows, followed by VanEck Ethereum Trust (ETHV), which bagged $1.98 million, and finally 21Share Core Ethereum ETF (CETH) pulled $1.35 million.
Just one fund, the Franklin Ethereum Trust (EZET), remained neutral—and just one fund, the Grayscale Ethereum Trust (ETHE), posted outflows. Having not seen a single day of inflows, ETHE recorded an additional $10.72 million in exits, bringing its cumulative outflow to $2.9 billion.
Positive Signs
Since launching, ETH ETF markets have regularly posted red candles on a daily/weekly basis. However last week, they captured $84.41 million after six consecutive weeks of outflows.
Ethereum ETF weekly flows. Source: SoSoValue
As frequently mentioned, Grayscale’s $2.9 billion in net outflows have been the main driver behind these negative results. On paper, it would suggest that ETH ETFs are a failing asset class.
Though it was widely understood that trading volumes would pale in comparison to BTC ETFs, no one had quite anticipated such a tepid performance. But, when you consider that every other fund except ETHE is in the green, ETH ETFs are actually performing pretty well, given the broader market woes.
It’s been a tough couple of months for crypto overall. But, with “Redtember” coming to a close and BTC bulls fighting for the $65,000 level, investors will be eyeing the performance of crypto ETFs with great interest this week.
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.
