Surge in Bitcoin ETF Inflows Reflects Institutional Confidence
On Friday, Bitcoin Exchange-Traded Funds (ETFs) experienced a remarkable inflow of $494.4 million, representing one of the highest single-day totals in recent times. Ark’s ARKB ETF led this surge with an impressive $203.1 million influx, building on its momentum following significant inflows recorded on September 26.
Key Contributions from Major ETFs
- Fidelity’s FBTC ETF: $123.6 million
- BlackRock’s IBIT ETF: $110.8 million
- Bitwise’s BITB ETF: $12.9 million
- Grayscale’s GBTC: $26.2 million
- Invesco’s BTCO, Valkyrie’s BRRR, and VanEck’s HODL: Approximately $3.3 million each, with VanEck’s HODL seeing an additional $11.2 million.
Subsequent Market Activity
However, the following Monday brought a noticeable decline in activity for Bitcoin ETFs, with net inflows dropping to $61.3 million. Notably, BlackRock’s IBIT ETF continued to attract investor interest with inflows of $72.2 million. This positive performance was somewhat balanced by outflows from both Bitwise’s BITB and Ark’s ARKB ETFs, which saw withdrawals of $9.7 million and $9.5 million, respectively. Fidelity’s FBTC ETF followed suit with a modest addition of only $8.3 million.
Ethereum ETF Trends
Ethereum ETFs mirrored the trend, with total inflows reaching $58.7 million on September 27. The leading contributor was Fidelity’s FETH ETF, which attracted $42.5 million, followed by BlackRock’s ETHA ETF with $11.5 million. Additionally, Bitwise’s ETHW and Invesco’s QETH added $5.4 million and $4.3 million, respectively, although Grayscale’s ETHE ETF experienced outflows totaling $10.7 million, partially countered by $2.3 million going into Grayscale’s mini ETH fund.
Monday’s Ethereum ETF Activity
On September 30, Ethereum ETFs faced minor outflows of $0.8 million. This was mainly due to outflows from Grayscale’s ETHE fund, which reported $11.8 million in withdrawals, while BlackRock’s ETHA ETF managed to secure a modest addition of $11 million. The lack of significant activity across other Ethereum ETFs suggests a quiet beginning to the week for institutional interest in Ethereum-related products.
Conclusion
The substantial inflow into Bitcoin ETFs on Friday showcases an ongoing institutional confidence in cryptocurrency assets. However, the tempered response observed on Monday may indicate a period of profit-taking or reallocation as the new week progresses. Despite strong inflows on Friday, the mixed results for Ethereum ETFs signal an uncertain sentiment within the market for Ethereum-backed products.
