Bitcoin and Ethereum ETFs Soar With $570M Combined Inflows

Key Takeaways

• Bitcoin ETFs now command $61.89 billion in BTC or 4.75% of its market cap.
• BlackRock’s BTC and ETH ETFs now have combined inflows of $23 billion.
• Ethereum ETFs now hold $7.2 billion in ETH or 2.28% of its market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have begun the week with gigantic inflows of over $570 million combined, perhaps marking the beginning of a bullish era for crypto ETFs.

Bitcoin ETFs

As per data from SoSoValue, Bitcoin ETFs have posted a whopping $555.85 million in net inflows for Oct. 14, 2024. After a total $2.61 billion traded, ten out of twelve funds closed the day in the green.

Bitcoin ETF flows. Source: SoSoValue

Starting the week right, Fidelity’s Wise Origin Bitcoin Fund ( FBTC ) captured almost half of the day’s inflows, securing a hefty $239.25 million in net inflows. This gigantic boost has given it the final push it needed to bring FBTC’s cumulative net inflows above $10 billion.

Next up, the Bitwise Bitcoin ETF (BITB) bagged $100.2 million. This is BITB’s largest day of inflows since Feb. 15. BlackRock’s iShares Bitcoin Trust (IBIT) trailed closely behind, posting $79.51 million in net inflows and raising its cumulative net inflow to $21.78 billion.

ARK 21Shares Bitcoin ETF (ARKB) netted $69.79 million. Not to be left out, the Grayscale Bitcoin Trust (GBTC) added $37.77 million in net inflows. Despite this, its net outflows remain a sour $20.15 billion.

As for the smaller winners of the day, the VanEck Bitcoin ETF (HODL) captured $11.19 million of the day’s flows. The Franklin Templeton Digital Holdings Trust (EZBC) recorded $5.73 million, Invesco’s Galaxy Bitcoin ETF (BTCO) secured $4.94 million, and the Grayscale Bitcoin Mini Trust gained $4.68 million.

Finally, the Valkyrie Bitcoin Fund (BRRR) gained $2.8 million in net inflows. The two remaining funds flowed neutral.

Ethereum ETFs

Not missing out on the action, SoSoValue data shows that Ethereum ETFs posted total inflows of $17.07 million on Oct. 14, 2024 as ETH begins looking bullish once again.

Ethereum ETF flows. Source: SoSoValue

BlackRock’s iShares Ethereum Trust (ETHA) leads the pack with $14.31 million in net inflows, raising its cumulative inflow total to $1.22 billion. Fidelity’s Ethereum Fund (FETH) caught a humble $1.31 million in net inflows, raising its cumulative net inflows to $455.81 million.

The Invesco Galaxy Ethereum ETF (QETH) saw a rare day of inflows, bagging $1.05 million on its eighth-ever day of inflows. Having not seen a day of outflows, QETH has seen just $23.8 million in cumulative flows.

Similarly, the 21Shares Core Ethereum ETF (CETH) captured $393,690 of the day’s inflows. Having run almost completely neutral since launching, this marks CETH’s seventh-ever day of inflows.