Recent data shows a surge in inflows, with Bitcoin ETFs leading the charge and Ethereum ETFs following with inflows as well which was largely unusual since its launch.
On September 27, 2024, investors piled $494.4 million into Bitcoin spot ETFs. Ethereum wasnât far behind, with its ETFs raking in $58.7 million on the same day. These arenât just big numbers â theyâre a sign that more people want a piece of the crypto and that, maybe, huge bull run is on the horizon.
Bitcoin ETFs: The Big Winners
ARK 21Shares (ARKB) came out on top, pulling in a whopping $203.1 million. Fidelity (FBTC) wasnât far behind, attracting $123.6 million. BlackRock (IBIT) rounded out the top three with $110.8 million in new investments.
Spot ETF: $494.4M to $BTC and $58.7M to $ETH Sep 27, 2024 The total flow for BTC ETFs this week is +$1.11B, with inflows on all 5 trading days. This marks the largest weekly inflow since July 19. The total flow for ETH ETFs this week is +$84.6M, with inflows on⊠pic.twitter.com/Bzi34u72LS
â Spot On Chain (@spotonchain) September 28, 2024
Other Bitcoin ETFs had a good showing too. Grayscale (GBTC) brought in $26.2 million, while Bitwise (BITB) and VanEck (HODL) saw inflows of $12.9 million and $11.2 million respectively. Even the smaller players like Invesco (BTCO) and Valkyrie (BRRR) each managed to attract $3.3 million.
Not everyone joined the party, though. Franklin (EZBC), Grayscale Mini (BTC), and WisdomTree (BTCW) didnât see any new money come in during this period.
All in all, Bitcoin ETFs raked in a total of $494.4 million. Thatâs no small change.
Read also: Stacks (STX) and Dogwifhat (WIF) Prices Break Out, Uptrend ExpectedâBut Thereâs a Catch
Ethereum ETFs
While Bitcoin stole the show, Ethereum ETFs held their own. Fidelity (FETH) led the pack here, bringing in $42.5 million. BlackRock (ETHA) wasnât far behind with $11.5 million in new investments.
Other Ethereum funds saw some action too. Bitwise (ETHW) pulled in $5.4 million, Invesco (QETH) attracted $4.3 million, and the Grayscale Mini (ETH) saw $2.3 million in inflows.
One odd duck out was Grayscale (ETHE), which actually lost $10.7 million. It seems some investors might be jumping ship there, but itâs hard to say why without more info.
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Bitcoin ETFs had a monster week, pulling in $1.11 billion total. Thatâs the most theyâve seen since mid-July. Ethereum ETFs did well too, with $84.6 million in new investments â their best showing since early August.
These numbers tell us one thing: more people are getting interested in crypto through these mainstream investment options. But as always, itâs smart to do your homework before jumping in.
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