Spot Bitcoin ETFs Record Total Net Inflow Worth $365.57M

The net asset value of Spot Bitcoin ETFs is $60.03 billion, and the net asset ratio is $4.7% as of September 26, 2024, Eastern Time (ET). However, the highlight of the story is the total net inflow, surpassing $360 million on the specified date. All issuers collectively brought up a net inflow of $365.7 million after adjusting the negative flow of Grayscale worth $7.7 million. It marked the 6th consecutive day for Spot BTC ETFs to bank net inflows.

The last outflow occurred on September 18, 2024, for $52.7 million. It was not a part of the series of outflows, but it may have been a heavy fluctuation in the absence of numbers from BlackRock and other similar issuers.

For September 26th, BlackRock recorded $93.4 million in inflows, and Ark registered $113.8 million of the positive flow. IBIT was followed by FBTC and BITB, which received inflows of $74 million and $50.4 million, respectively, applicable in the same order. HODL managed to secure $22.1 million in positive inflows. Grayscale Mini Trust contributed to balancing the play with an inflow of $2.9 million.

Invesco, Franklin, and Valkyrie brought inflows of $6.5 million, $5.7 million, and $4.6 million, respectively. For the seventh day in a row, WisdomTree’s BTCW did not report any number again and for the 7th consecutive day. The last time it reported a number was on September 17, 2024, for a value of $3.2 million in inflows. As of September 26, 2024, the historical cumulative net inflow for Spot Bitcoin ETFs stood at $18.31 billion, with BlackRock maintaining a position above $21.3 billion and Grayscale showing a total outflow of $20.11 billion.

Spot Ether ETFs showed a net outflow of $0.1 million, while Grayscale weighed heavily with an outflow of $36 million. BlackRock and Fidelity recorded inflows worth $15.3 million and $15.9 million, respectively, but failed to mark the 3rd consecutive day of net inflows by a small margin.

That said, the value of BTC is also noteworthy, for the flagship cryptocurrency has risen by 11.19% in the last 30 days and is currently hovering around $65,470.04 at press time. It reflects a surge of 2.61% in the last 24 hours and 3.02% in the last 7 days. Upticks follow the Federal Reserve’s announcement of a 50 bps rate cut, with a clear hint of two more cuts planned by the end of 2024.

Investors are optimistic about the opportunity the crypto market will present in terms of token values, and this optimism extends to the ETFs of those currently floating in the market. Liquidity, which is increasing due to bullish sentiments, is the primary focus. Grayscale’s outflows from BTC Spot ETFs have not yet decreased, but considering the magnitude of inflows, it is possible that other issuers could effectively counterbalance this. Needless to say, subsiding outflows would be a great contribution to the scope of Spot BTC ETFs.