Market Overview of Bitcoin and Ethereum ETFs
As of September 23, the ETF sector for cryptocurrencies displayed mixed performance with total flows amounting to $4.5 million across various funds. Bitcoin ETFs stood out with notable inflows, while Ethereum ETFs faced significant outflows, reflecting differing investor sentiments.
Bitcoin ETF Flows
- Fidelity’s FBTC ETF: Led the market with an impressive inflow of $24.9 million.
- BlackRock’s IBIT: Followed closely with inflows totaling $11.5 million.
- Grayscale’s smaller BTC fund: Recorded inflows of $8.4 million.
- Grayscale’s GBTC: Despite its size in the market, it faced significant outflows of $40.3 million.
- Other Major Funds: Funds from Bitwise (BITB), Ark (ARKB), Invesco (BTCO), and others saw no activity, resulting in flat flows.
Ethereum ETF Flows
- Total Outflows: Ethereum ETFs suffered a net outflow of $79.3 million.
- Grayscale’s ETHE Fund: Contributed heavily to the outflows with $80.6 million withdrawn, indicating a substantial shift in sentiment among investors.
- Bitwise’s ETHW: The only Ethereum fund to experience inflows, albeit modest, with $1.3 million.
- Other Ethereum ETFs: Funds from reputable issuers like BlackRock, Fidelity, 21Shares, VanEck, Invesco, and Franklin saw no inflows or outflows.
Summary of Observations
The contrasting trends in Bitcoin and Ethereum ETFs indicate ongoing market volatility and selective investor behavior. While Bitcoin continues to attract demand, Ethereum funds, particularly those associated with Grayscale, are experiencing a decline in investor interest.