US #BitcoinETFs hit $117M in daily inflows, #EtherETFs back in green
Key Takeaways:
- U.S. spot Bitcoin ETFs gained $117 million in net inflows on Tuesday.
- BlackRock's iShares Bitcoin Trust (IBIT) has seen no new capital since late August.
U.S. spot Bitcoin exchange-traded funds (ETFs) attracted $117 million in net inflows on Tuesday, while spot Ethereum ETFs also returned to positive territory after a period of losses, according to data from Farside Investors.
Fidelity's Bitcoin Fund (FBTC) led the way with around $63 million in net inflows, bringing its total net inflows to $9.5 billion after eight months of trading. FBTC now holds $10.5 billion worth of Bitcoin, making it the third-largest Bitcoin ETF behind BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC).
Other funds like Grayscale’s Bitcoin Mini Trust (BTC) and ARK Invest/21Shares' Bitcoin ETF (ARKB) also saw gains, attracting $41 million and $13 million in net capital, respectively. However, IBIT, GBTC, and several other Bitcoin ETFs reported zero flows.
Net inflows resumed on Monday after a prolonged period of outflows from late August to early September, during which more than $1 billion was withdrawn from these funds. Despite IBIT's third day of outflows on Monday, Bitcoin ETFs as a whole ended the day in the green, thanks to inflows into other funds.
#BlackRock's IBIT, which has experienced stagnation since August 27, continues to dominate the crypto ETF market, with holdings exceeding $20 billion.
Meanwhile, U.S. spot Ethereum ETFs saw a modest rebound, with about $11 million in net inflows on Tuesday. Fidelity’s Ethereum Fund (FETH) and BlackRock’s iShares Ethereum Trust (ETHA) led the way, while other Ethereum ETFs saw no inflows.
Source - cryptobriefing.com
