Bitcoin and Ethereum ETFs Bounce Back With $200M Combined Inflows

• BlackRock’s IBIT has seen $21.03 billion in cumulative net inflows, Grayscale’s GBTC outflows now stand at $20.11 billion.
• Bitcoin ETFs command $58.67 billion in net assets or 4.62% of Bitcoin’s market cap.
• Ethereum ETFs have seen their largest day of inflows since early Aug.

U.S. spot Bitcoin (BTC) and Ethereum exchange-traded funds (ETFs) have seen heightened inflows, with almost $200 million pouring in.

Bitcoin ETFs

According to data provided by SoSoValue, Bitcoin ETFs netted $135.95 million  in inflows on Sept. 24, marking day four of their renewed inflow streak.

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.

Read More: Ethereum Price Prediction 2024: ETH Price Analysis

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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