U.S. Spot Bitcoin ETFs See $365.7 Million Inflow as Ethereum ETFs Face Outflows

TLDR

• Spot Bitcoin ETFs saw $365.7 million in net inflows on Sept. 26, a two-month high
• ARK 21Shares’ ARKB led with $113.8 million in inflows
• BlackRock’s IBIT drew $93.4 million, continuing its four-day inflow streak
• Grayscale’s GBTC was the only Bitcoin ETF with outflows ($7.7 million)
• Spot Ethereum ETFs recorded net outflows of $675,450 on the same day

On September 26, 2024, the spot Bitcoin exchange-traded funds (ETFs) in the United States witnessed a significant surge in inflows, reaching a two-month high of $365.7 million.

This marks a continuation of the six-day upward momentum for these investment vehicles. The last time such high inflows were observed was on July 22.

Leading the pack was ARK 21Shares’ ARKB, which attracted an impressive $113.8 million in new investments. BlackRock’s IBIT, the largest Bitcoin ETF, wasn’t far behind, drawing in $93.4 million.

This influx marks IBIT’s fourth consecutive day of inflows, pushing its total net inflows since launch to over $21.3 billion.

Other spot Bitcoin ETFs also experienced notable inflows. Fidelity’s FBTC brought in $74 million, while Bitwise’s BITB and VanEck’s HODL ETFs saw inflows of $50.4 million and $22.1 million, respectively.

Smaller funds like BTCO, EZBC, BRRR, and Grayscale Bitcoin Mini Trust also joined the positive trend with inflows ranging from $2.9 million to $6.5 million.

However, not all Bitcoin ETFs shared in the day’s success. Grayscale’s GBTC stood out as the sole Bitcoin ETF to record outflows, with $7.7 million exiting the fund.

This continued a trend for GBTC, which has now seen total outflows exceeding $20.1 billion since its launch.

The surge in activity wasn’t limited to inflows alone. The total trading volume for the 12 Bitcoin ETFs skyrocketed to $2.43 billion on September 26, more than tripling the previous day’s figure.

Since their launch, these funds have accumulated a total net inflow of $18.31 billion.

This increased interest in Bitcoin ETFs coincided with a rise in the price of Bitcoin itself. The leading cryptocurrency had risen 2.7% over the past day, trading at $65,323 at the time of reporting.

While Bitcoin ETFs were experiencing a boom, the story was different for Spot Ethereum ETFs. These funds recorded net outflows of $675,450 on September 26, ending a brief two-day streak of inflows.

The majority of these outflows came from Grayscale’s ETHE, which saw $36 million leave the fund.

However, not all Ethereum ETFs faced outflows. BlackRock’s ETHA and Fidelity’s FETH managed to attract $15.3 million and $15.9 million in inflows, respectively.

Smaller Ethereum ETFs like QETH, ETHW, ETHV, and CETH also saw modest inflows ranging from $663,000 to $2 million.

Despite the outflows, trading volume for Ethereum ETFs increased, jumping to $257.4 million on September 26 from $124 million the previous day. Since their inception, spot Ether ETFs have experienced total net outflows of $581.61 million.

The cryptocurrency market itself reflected these trends, with Ethereum trading at $2,652 at the time of publication.

These movements in both Bitcoin and Ethereum ETFs highlight the dynamic nature of the cryptocurrency investment landscape.