Bitcoin and Ethereum ETF inflows ended last week in the green.
(Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
Bitcoin ETFs hold $57.73 million in net assets or 4.68% of BTC’s market cap.
Ethereum ETFs now command $6.66 billion in net assets or 2.28% of ETH’s market cap.
Grayscale’s primary BTC and ETH ETFs have combined outflows of $23.1 billion.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) ended last week with a modest $32.98 million in combined inflows on Oct. 4, 2024, despite overtly bearish conditions pushing down the market.
Bitcoin ETFs
As per data from SoSoValue, Bitcoin ETFs wrapped the week with $25.59 million in cumulative net inflows on Oct. 4.
Bitcoin ETF flows. Source: SoSoValue
Up top, Bitwise’s Bitcoin ETF (BITB) relished a humble $15.29 million in net inflows, bringing its cumulative net inflows to $2.11 billion.
Close behind is Fidelity’s Wise Origin Bitcoin Fund (FBTC), which gained $13.63 million in net inflows. Although FBTC is the second-best performing BTC ETF by cumulative net inflow with $9.85 billion, the fund has already lost over $180 million in outflows so far this month.
The ARK 21Shares Bitcoin ETF (ARKB) saw just $5.29 million in net inflows after a 4-day outflow streak knocked over $200 million off its portfolio. The VanEck Bitcoin ETF (HODL) also netted $5.29 million in inflows, raising its cumulative net inflows to $639.67 million.
As for outflows, the Grayscale Bitcoin Trust (GBTC) saw a further $13.91 million in exits, bringing its cumulative net outflows to $20.14 billion.
Ethereum ETFs
According to SoSoValue, ETH ETFs captured $7.39 million in net inflows on Oct. 4.
Ethereum ETF flows. Source: SoSoValue
Taking home a vast majority of the day’s gains, BlackRock’s iShares Ethereum Trust (ETHA) secured $14.72 million in net inflows. The IBIT fund is the most successful ETH ETF by far, with cumulative net inflows of $1.19 billion.
The Bitwise Ethereum ETF (ETHW) was the only other fund to post net inflows, bagging a very modest $871,300. The fund, which has a cumulative net inflow of $326.65 million, hasn’t seen a day of inflows exceeding $10 million since July 29.
More or less undoing the day’s gains, once again, the Grayscale Ethereum Trust (ETHE) hit day seven of its renewed outflow streak, shedding $8.2 million from its portfolio. So far, ETHE has seen $2.96 billion in cumulate net outflows.
Bitcoin & Ethereum Price
These figures follow a week of mixed market conditions that saw BTC soar back up to the $65,000 price tag, only to then tumble back to $60,000 on Oct. 4.
That said, it may have only been a temporary knee-jerk response to geopolitical woes, as BTC bulls are now pushing it above $63,000 following this weekend’s rally.
Ethereum has somewhat recovered from last week’s lows of around $2,300 and is currently trading at $2,641. However, looking at ETH’s recent trends, it could still be some time before it retakes $3,000
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.
