Bitcoin ETF Inflows Top $370M, Ethereum ETFs Tepid

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CCN2024/10/15 16:00

By:CCN

Key Takeaways

Bitcoin ETFs hold $63.13 billion in BTC or 4.8% of its market cap.
Grayscale’s primary BTC and ETH ETF outflows now total $23.14 billion.
Ethereum ETFs have $7.1 billion in ETH, or 2.29% of its market cap.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) have drawn over $920 million in net inflows this week. Meanwhile, Ethereum (ETH) funds are seeing little activity.

Bitcoin ETFs

As per SoSoValue data, Bitcoin ETFs are on an inflow streak, bagging $371.02 million on Oct. 15. Since last Friday, BTC ETFs have seen over $1.1 billion in net inflows.

Bitcoin ETF Inflows Top $370M, Ethereum ETFs Tepid image 0

Bitcoin ETF flows. Source: SoSoValue

Taking home roughly two-thirds of the day’s inflows, BlackRock’s iShares Bitcoin Trust (IBIT) tallied $288.84 million to its fund. IBIT’s cumulative net inflows now stand at $22.07 billion.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) netted a cool $35.03 million in net inflows, followed by ARK 21Shares Bitcoin ETF (ARKB) with $14.68 million.

Ethereum ETFs

The excitement from Bitcoin ETFs hasn’t trickled down into Ethereum ETFs, which saw little action, posting $12.7 million in net outflows on Oct. 15.

Ethereum ETF flows. Source: SoSoValue

The sole gainer for the day was Fidelity’s Ethereum Fund (FETH), which scored $2.59 million in net inflows. Under BlackRock’s ETH fund, FETH is the second-best-performing fund among competitors.

The Grayscale Ethereum Trust (ETHE) dragged the day’s results down, seeing $15.29 million in net outflows. ETHE hasn’t seen a single day of inflows and just eleven days of neutrality—its cumulative net outflows now total $3 billion.

After seeing a brief glimmer of hope yesterday following a sturdy $17 million in net inflows, ETH ETF flows continue to run sideways. Ethereum ETF daily trading volumes sunk in August and have averaged around $100 million to $200 million since then.

There may come a time when ETH funds blow up in a ‘proportionate’ or at least similar fashion to BTC ETFs, though for one reason or another, it doesn’t seem to be happening any time soon.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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