Bitcoin and Ethereum ETF flows remain in bullish territory.
(Photo by Spencer Platt/Getty Images)
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Key Takeaways
Bitcoin ETFs now command $59.08 billion, or 4.69% of BTC’s market cap.
BlackRock’s BTC and ETH ETFs have combined cumulative inflows of $22.65 billion.
Ethereum ETFs hold $7.14 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 begun the week with modest results after drawing over $1 billion in combined inflows last week.
Bitcoin ETFs
As per the latest market data from SoSoValue, Bitcoin ETFs have had a positive start to the week, posting a modest $61.3 million in net inflows on Sept. 30.
Bitcoin ETF flows. Source: SoSoValue
Although a majority of funds posted neutral flows, there were still some winners and losers. To begin with, BlackRock’s iShares Bitcoin Trust (IBIT) took home the lion’s share, posting $72.15 million in net inflows. IBIT’s cumulative net inflows now stand at a lofty $21.5 billion.
Trailing behind is Fidelity’s Wise Origin Bitcoin Fund (FBTC), which gained $8.32 million in net inflows. FBTC’s cumulative net inflows are hovering at the $9.99 billion mark, and could soon capture a position above $10 billion.
As for outflows, Grayscale’s GBTC is nowhere to be seen. Instead, the Bitwise Bitcoin ETF (BITB) posted $9.67 million in net outflows. Followed by the ARK 21Shares Bitcoin ETF (ARKB), which saw $9.5 million in outflows. This barely dents its roughly $250 million in cumulative net inflows from last week.
Ethereum ETFs
Ethereum ETFs have struggled to maintain inflow momentum this week as data from SoSovalue reveals meager net outflows of $822,290 on Sept. 30.
Ethereum ETF flows. Source: SoSoValue
As is typical of the Ethereum ETF market, it’s not all doom and gloom, as a majority of funds posted neutral flows. Instead, it was a tale as old as time, an arm wrestle between BlackRock’s inflows and Grayscale’s outflows.
BlackRock’s iShares Ethereum Trust (ETHA) is the only fund in the green, posting a cool $10.99 million in net inflows. As it stands, ETHA is the leading ETH ETF by quite a wide margin, with $1.15 billion in cumulative net inflows. ETHA has not seen a single day of outflows.
Conversely, the Grayscale Ethereum Trust (ETHE) has posted net outflows of $11.81 million. Having not seen a single day of inflows, and just eight days of neutrality, ETHE’s cumulative net outflows now stand at $2.91 billion.
Bullish Momentum
Overall, it’s a solid start to the week. If you ignore Grayscale’s outflows, both BTC and ETH ETF markets have been a resounding success. After pulling in over $1 billion in net inflows last week, it’s safe to say that there is still plenty of appetite for crypto ETFs.
Following BTC’s price rally to $65,000, renewed optimism struck the market as word of a “Greentober” to counter the woes of “Redtember” was said to be on the cards.
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.
