Bitcoin and Ethereum ETF inflows skyrocket.
(Photo by Spencer Platt/Getty Images
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Key Takeaways
Bitcoin ETFs now command $61.89 billion in BTC or 4.75% of its market cap.
BlackRock’s BTC and ETH ETFs now have combined inflows of $23 billion.
Ethereum ETFs now hold $7.2 billion in ETH or 2.28% of its market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have begun the week with gigantic inflows of over $570 million combined, perhaps marking the beginning of a bullish era for crypto ETFs.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs have posted a whopping $555.85 million in net inflows for Oct. 14, 2024. After a total $2.61 billion traded, ten out of twelve funds closed the day in the green.
Bitcoin ETF flows. Source: SoSoValue
Starting the week right, Fidelity’s Wise Origin Bitcoin Fund (FBTC) captured almost half of the day’s inflows, securing a hefty $239.25 million in net inflows. This gigantic boost has given it the final push it needed to bring FBTC’s cumulative net inflows above $10 billion.
Next up, the Bitwise Bitcoin ETF (BITB) bagged $100.2 million. This is BITB’s largest day of inflows since Feb. 15. BlackRock’s iShares Bitcoin Trust (IBIT) trailed closely behind, posting $79.51 million in net inflows and raising its cumulative net inflow to $21.78 billion.
ARK 21Shares Bitcoin ETF (ARKB) netted $69.79 million. Not to be left out, the Grayscale Bitcoin Trust (GBTC) added $37.77 million in net inflows. Despite this, its net outflows remain a sour $20.15 billion.
As for the smaller winners of the day, the VanEck Bitcoin ETF (HODL) captured $11.19 million of the day’s flows. The Franklin Templeton Digital Holdings Trust (EZBC) recorded $5.73 million, Invesco’s Galaxy Bitcoin ETF (BTCO) secured $4.94 million, and the Grayscale Bitcoin Mini Trust gained $4.68 million.
Finally, the Valkyrie Bitcoin Fund (BRRR) gained $2.8 million in net inflows. The two remaining funds flowed neutral.
Ethereum ETFs
Not missing out on the action, SoSoValue data shows that Ethereum ETFs posted total inflows of $17.07 million on Oct. 14, 2024 as ETH begins looking bullish once again.
Ethereum ETF flows. Source: SoSoValue
BlackRock’s iShares Ethereum Trust (ETHA) leads the pack with $14.31 million in net inflows, raising its cumulative inflow total to $1.22 billion. Fidelity’s Ethereum Fund (FETH) caught a humble $1.31 million in net inflows, raising its cumulative net inflows to $455.81 million.
The Invesco Galaxy Ethereum ETF (QETH) saw a rare day of inflows, bagging $1.05 million on its eighth-ever day of inflows. Having not seen a day of outflows, QETH has seen just $23.8 million in cumulative flows.
Similarly, the 21Shares Core Ethereum ETF (CETH) captured $393,690 of the day’s inflows. Having run almost completely neutral since launching, this marks CETH’s seventh-ever 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.
