On Monday, U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a significant shift, recording $28.72 million in net inflows and breaking an eight-day streak of outflows.
Leading the inflows was Fidelityâs FBTC, which saw $28.6 million in new investments. Bitwiseâs BITB followed with $21.99 million in inflows, as reported by SoSoValue. Other notable gains included Ark Invest and 21Sharesâ ARKB, which attracted $6.81 million, and Invescoâs BTCO, which saw $3.14 million in net inflows.
On September 9, the Bitcoin spot ETF had a total net inflow of $28.7196m. Grayscale ETF GBTC had an outflow of $22.76m, and Fidelity ETF FBTC had an inflow of $28.5954m. Ethereum spot ETF had a total net outflow of $5.198m, and continued to have a net outflow for 5 days.âŠ
â Wu Blockchain (@WuBlockchain) September 10, 2024
Despite this positive performance from several funds, Grayscaleâs GBTC saw a dampening effect with $22.76 million in outflows. Additionally, BlackRockâs IBIT, the largest spot Bitcoin ETF by net assets, reported $9.06 million in outflows, marking a period of outflows or stagnant activity since August 26.
The 12 Bitcoin ETFs collectively recorded a daily trading volume of $1.61 billion on Monday, a decrease from the $2.39 billion observed on Friday. Since their launch in January 2024, these ETFs have accumulated $16.92 billion in net inflows.
In contrast, digital asset investment products have been struggling, with outflows reaching $726 million over the past week, matching the largest outflow recorded in March of this year. Bitcoin was notably affected, experiencing outflows of $643 million. However, short-Bitcoin products experienced slight inflows of $3.9 million, suggesting some investors are still hedging against further price declines in the leading cryptocurrency.
Spot Ether ETFs Continue Downward Trend
Meanwhile, spot Ethereum ETFs faced their fifth consecutive day of net outflows, totaling $5.20 million on Monday. Grayscaleâs ETHE led the outflows with $22.64 million, while the Grayscale Ethereum Mini Trust (ETH) recorded $7.97 million in inflows. Fidelityâs FETH saw $7.62 million in inflows, and Bitwiseâs ETHW added $1.85 million.
The nine Ethereum ETFs had a total trading volume of $124.51 million on Monday, down from $210.43 million on Friday. Ethereum ETFs have seen consistent outflows since their launch, with cumulative net outflows reaching $573 million as of September 7, 2024. The daily net outflow on the same day was $5.98 million, although occasional inflows, such as $5.84 million on August 28, have occurred. Despite the recent trend, total net assets for Ethereum ETFs remain above $6 billion.
Despite these outflows, crypto-related ETFs continue to be prominent in the ETF market. Among the 400 new ETFs launched in 2024, the top four are all spot Bitcoin ETFs, including BlackRockâs iShares Bitcoin Trust, Fidelityâs Wise Origin Bitcoin Fund, the ARK 21Shares Bitcoin ETF, and Bitwiseâs Bitcoin ETF Trust. The iShares Ethereum Trust ETF also stands out, becoming the seventh-largest ETF launch of 2024, surpassing $1 billion in inflows as of August.
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