Bitcoin and Ethereum ETFs are in the green.
(Photo by Spencer Platt/Getty Images)
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Key Takeaways
Bitcoin ETF net assets total $64.46 billion in BTC or 4.82% of its market cap.
BlackRock’s BTC and ETH ETFs have combined inflows of $23.69 billion.
Ethereum ETFs command $7.19 billion in ETH or 2.28% of its market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are in bullish territory as BTC funds draw hundreds of millions, and ETH flows begin to trend green.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs saw $458.54 million in cumulative net inflows on Oct. 16, 2024. Since Monday, over $1.38 billion has poured into Bitcoin funds.
Bitcoin ETF flows. Source: SoSoValue
BlackRock’s iShares Bitcoin Trust (IBIT) captured a vast majority of the day’s inflows, pulling a gigantic $393.4 million in net inflows. This marks its largest day of inflows since July 22, raising its cumulative net inflow to $22.46 billion.
The second-best-performing fund, Fidelity’s Wise Origin Bitcoin Fund (FBTC), netted $14.81 million of the inflows, bringing its cumulative net inflows to $10.27 billion.
Bitwise Bitcoin ETF (BITB) registered $12.93 million in inflows, and Franklin Templeton Digital Holdings Trust (EZBC) bagged a cool $11.79 million. The ARK 21Shares Bitcoin ETF (ARKB) posted $11.51 million in net inflows.
On the lower end, Invesco’s Galaxy Bitcoin ETF (BTCO) pulled $6.43 million, and VanEck’s Bitcoin ETF (HODL) secured $5.75 million. Finally, the Valkyrie Bitcoin Fund (BRRR) saw $1.92 million in net inflows.
All other funds, including Grayscale, flowed neutral. On Oct. 16, a total of $1.58 billion was traded.
ETH ETFs
According to SoSoValue, Ethereum ETFs have recorded $24.22 million in net inflows as investors slowly warm to ETH funds.
Ethereum ETF flows. Source: SoSoValue
BlackRock’s iShares Ethereum Trust (ETHA) leads the pack, tallying a cool $11.89 million to its portfolio. ETHA is the top-performing fund with $1.22 billion in cumulative net inflows.
Up next, Fidelity’s Ethereum Fund (FETH) caught $8.5 million of the day’s inflows, raising its cumulative net inflow to $466.9 million. Finally, after ten days of neutral flows, VanEck’s Ethereum Trust (ETHV) saw a modest $3.83 million in net inflows.
Looking at the numbers, ETH funds are a little underwhelming.
However, the past couple of weeks have slowly started a positive trend. Though they aren’t exactly in the hundreds of millions yet, investors appear to be warming to a few ETFs on the market.
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.
