BlackRock and Fidelity Lead ETF Market Despite Challenges

• Bitcoin ETFs IBIT and FBTC Outperform with Over $10 Billion in Assets Amid Market Decline.

• Ethereum ETF Struggles, Suffers Gross Outflows as Bitcoin and Ethereum Prices Plunge.

As the cryptocurrency market faces a broad downturn, Bitcoin ETF [BTC] is not immune to existing trends.

New reports from Farside Investors reveal that the BTC ETF saw outflows of as much as $52.9 million on October 2.

Balchunas highlights the leaders

Amid this difficult backdrop, however, Eric Balchunas, a senior ETF analyst at Bloomberg, identified two prominent Bitcoin ETFs—BlackRock’s IBIT and Fidelity’s FBTC—as the top performers of the 2020s.

Both funds have achieved “peak” status, with more than $10 billion in assets under management, highlighting their resilience and appeal to investors even in difficult times.

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In a post on X (formerly Twitter), Balchunas noted,

Source: Eric Balchunas/X

Echoing Balchunas' sentiment, an X user added,

Source: Charles/X

Blackrock and Fidelity Bitcoin ETF Analysis

This trend is further confirmed by data from Farside Investors, which reveals that since its launch, BlackRock’s IBIT has attracted a whopping $21.5 billion in total inflows, while Fidelity’s FBTC has attracted $9.9 billion.

These two ETFs have taken the lead, leaving others to follow.

However, October, traditionally considered the “Uptober” month after a down September, delivered mixed results.

On October 1, IBIT experienced inflows of $40.8 million, in sharp contrast to FBTC, which suffered outflows of $144.7 million.

IBIT recorded $13.7 million in outflows on October 2, while FBTC bounced back with $21.1 million inflows, illustrating volatility and shifting dynamics in the ETF landscape.

Ethereum ETF Performance

Conversely, the performance of the Ethereum ETF [ETH] has also been less positive.

See also: Grayscale now manages $20 billion

On October 1, total outflows for the ETH ETF reached $48.6 million; BlackRock’s ETHA saw no inflows or outflows, while Fidelity’s FETH saw $25 million inflows.

ETHA continued to struggle, posting $18 million in outflows the following day.

Meanwhile, FETH maintains a stable position with no recorded cash flow.

This trend highlights the challenges facing Ethereum ETFs in the current market environment.

Growing Concerns About Grayscale's GBTC

Meanwhile, another X user asked a very disturbing question,

“Doesn't this make#GBTCone of the worst performing ETFs of the decade?”

This observation is further reinforced by the latest update from Farside Investors, which revealed that Grayscale’s GBTC has experienced a massive outflow of $20.1 billion since its launch.

Similarly, Grayscale’s Ethereum ETF, ETHE, saw total outflows of $2.93 billion, surpassing outflows from all other ETH ETFs combined.

See more: Bitcoin's power spreads, Altcoins return?

BTC and ETH price movements

In terms of price, both cryptocurrencies are experiencing a bearish trend, with Bitcoin trading at $60,480.03, reflecting a decline of 0.98% over the past 24 hours.

Meanwhile, Ethereum traded at $2,347.81, showing a more significant drop of 4.35% over the same period.

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