Leading the gainers by quite a sizeable margin, BlackRock’s iShares Bitcoin Trust (IBIT) has secured a solid $98.89 million. This marks its third day of inflows after an oddly quiet month of flows for the leading BTC ETF. With $21.03 billion in cumulative net inflows, IBIT remains leagues ahead of other funds.
Next up, the Bitwise Bitcoin ETF (BITB) bagged a cool $17.41 billion, as did Fiedlity’s Wise Origin Bitcoin Fund (FBTC) with $16.8 million in net inflows. Finally, the Grayscale Bitcoin Mini Trust saw net inflows of $2.85 million.
Remarkably, the Grayscale Bitcoin Trust (GBTC) saw a rare day of neutral flows, bolstering today’s positive results.
Ethereum ETFs
As per SoSoValue, Ethereum ETFs posted their largest day of inflows since Aug. 6, securing a hefty $62.51 million in net inflows on Sept. 24.
Taking home a double win, BlackRock’s iShares Ethereum Trust (ETHA) posted $59.25 million in net inflows. This brings the leading ETH ETF’s cumulative net inflows to $1.1 billion. This is the funds’ largest day of inflows since Aug. 6.
The VanEck Ethereum Trust (ETHV) made a rare appearance with $1.94 million in net inflows. After running mostly neutral since Aug. 23, punctuated with just one day of outflows, ETHV’s cumulative net inflows now stand at a humble $63.28 million.
Finally, the Invesco Galaxy Ethereum ETF (QETH) saw its fifth-ever day of inflows, adding $1.32 million to its portfolio. With cumulative inflows of $16.44 million, QETH is one of the smaller funds.
However, the sudden revival of positive flows to lesser-bought ETH ETFs could be a positive sign for the market.
BTC and ETH Price
As per the latest data from CoinMarketCap, Bitcoin is trading at $63,676 after briefly pushing above the $6,000 price tag in the early hours. After a bullish rally on Sept. 18, traders have maintained an upward trajectory, with sentiment looking considerably more positive than just a couple of weeks ago.
Ethereum caught some of BTC’s gains and glided up from $2,296 to $2,622 in the past week. Though some would be disappointed that ETH has failed to recapture $3,000, it is still up around 14% for the week.
It is uncertain how long this market resurgence will last. But with crypto ETFs turning green again, confidence appears to be returning to the markets.
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.
