Significant Inflows into Bitcoin ETFs
Recent data indicates that Bitcoin ETFs experienced impressive net inflows amounting to $809.5 million over the last two trading days. This surge is largely attributed to Fidelity, which alone accounted for $356 million in Bitcoin assets.
Inflows Recorded on October 11
On October 11, Bitcoin ETFs attracted net inflows of $253.6 million. The major contributors included:
- Fidelity’s FBTC ETF: $117.1 million
- Ark’s ARKB ETF: $97.6 million
- Bitwise’s BITB ETF: $38.8 million
- Invesco’s BTCO: $7.9 million
- VanEck’s HODL ETF: $14.3 million
In contrast, Grayscale’s GBTC ETF experienced outflows of $22.1 million, while other ETFs, including those from BlackRock, Franklin, Valkyrie, and WisdomTree, remained unchanged.
Continued Growth on October 14
By October 14, Bitcoin ETFs recorded an additional $555.9 million in net inflows, highlighting robust institutional demand. The inflow distribution was as follows:
- Fidelity’s FBTC ETF: $239.3 million
- BlackRock’s IBIT ETF: $79.5 million
- Bitwise’s BITB ETF: $100.2 million
- Ark’s ARKB ETF: $69.8 million
- Invesco’s BTCO: $4.9 million
- Franklin’s EZBC: $5.7 million
- Grayscale’s GBTC ETF: $37.8 million
- Grayscale’s smaller BTC ETF: $4.7 million
Ethereum ETFs Performance Overview
On October 11, 2024, Ethereum ETFs had a relatively calm trading day, resulting in slight net outflows of $0.1 million. Notable movements included:
- Fidelity’s FETH ETF: $8.6 million inflow
- Grayscale’s ETHE fund: $8.7 million outflow
Other Ethereum ETFs, including those from BlackRock, Bitwise, 21Shares, VanEck, Invesco, and Franklin, reported no significant changes.
Rebound in Inflows on October 14
Ethereum ETFs saw recovery on October 14, with total net inflows reaching $17.0 million. The distribution of the inflows was as follows:
- BlackRock’s ETHA ETF: $14.3 million
- Fidelity’s FETH ETF: $1.3 million
- 21Shares’ CETH: $0.4 million
- Invesco’s QETH: $1.0 million
Notably, there were no outflows from any Ethereum products on this day.
Conclusion: Institutional Interest on the Rise
The recent inflows into Bitcoin ETFs, particularly from Fidelity, BlackRock, and Ark, suggest a growing confidence among institutional investors. While Ethereum ETFs witnessed a quieter period, they also showed signs of renewed interest, particularly with BlackRock leading the charge on October 14.