On the 30th of September, Bitcoin and Ethereum spot ETFs have gained huge inflows. As per Lookonchain, a popular on-chain analytics firm, massive inflows into $ETH and $BTC ETFs highlight the increasing interest specifically from institutional-level investors. The analytics provider took to its official social media account to offer insights into the current status of the crypto ETF market.
Sept 30 Update:10 #Bitcoin ETFsNetFlow: +7,111 $BTC(+$453.42M)#ARK21Shares inflows 3,085 $BTC($196.71M) and currently holds 50,684 $BTC($3.23B).9 #Ethereum ETFsNetFlow: +9,927 $ETH(+$25.95M)#Fidelity inflows 15,750 $ETH($41.17M) and currently holds 161,500… pic.twitter.com/nSTZc1WBA7
— Lookonchain (@lookonchain) September 30, 2024
$BTC ETFs Effectively Add $453.42M on September 30
In its new X post, Lookonchain noted that Bitcoin exchange-traded funds witnessed 7,111 $BTC in net inflow. This amount equals nearly $453.42M, with a big portion coming from ARK21Shares. The ETF alone added a large amount of up to 3,085, equaling $196.71M, elevating its cumulative holdings to almost 50,684 $BTC. This figure reportedly accounts for a significant $3.23B.
These enormous inflows into $BTC ETFs take place at a moment when market members are keenly awaiting the US SEC’s decision. The Securities and Exchange Commission has yet to announce its decision concerning many applications for spot $BTC ETFs. Optimistic market sentiment along with a growing expectation of likely ETF approvals are the factors driving this spike in investments from institutions.
$ETH ETFs Witness $25.95 Million in the Net Inflows
Ethereum exchange-traded funds also experienced considerable net inflow. Cumulatively, 9,927 (nearly $25.95M) $ETH have reportedly entered these ETFs. Fidelity, a well-known player in the financial sector and ETF realm, led the $ETH ETFs with a noteworthy inflow of almost 15,750 $ETH. This figure equals up to $41.17M. The ETF currently holds nearly 161,500 $ETH. The value of this figure is approximately $422.16M.
These statistics mirror a notable jump in institutional interest while Ethereum keeps strengthening its status. Due to Ethereum’s impending network advancements and the NFTs and DeFi sector’s popularity, the demand for Ethereum is surging.
Trading for Today Has Yet to Be Concluded
In line with the latest update, the trading day has not yet ended. This signifies that the inflow numbers for Ethereum and Bitcoin ETFs could shift before the closure of the market. Investors are reportedly keeping a keen eye on these funds parallel to large inflows throughout the trading day of September 30. More updates may disclose further shifts in the case of ETF holdings while trading concludes.
