Bitcoin and Ethereum ETFs Inflows Mixed After a Bullish End to Redtember

• 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.

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.

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.

About the Author

Eddie Mitchell

Eddie has been writing news and content primarily for crypto news and industry players over the past seven years. With an eye for the bigger picture, Eddie prefers to investigate the broader implications of a story, as well as explore the weird and wonderful world of crypto. He believes blockchain has already changed the world, but observes the space overall with a skeptical and adoring eye.

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