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Bitcoin and Ethereum ETF Flows Run Thin, But Mostly Positive

CCNCCN2024/09/18 03:18
By:CCN
Key Takeaways
  • Bitcoin ETFs hold $52.57 billion in net assets or 4.61% of BTC’s market cap.
  • BlackRock’s BTC ETF posted its first day of inflows since Aug. 26.
  • Ethereum ETFs hold $6.22 billion in net assets or 2.27% of ETH’s market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have begun the week with slower-than-usual flows.

Bitcoin ETFs

As per data gathered by SoSoValue, Bitcoin ETFs posted a very modest $12.9 million in net inflows for Sept. 16, a figure rarely seen in either daily outflow or inflow results.

Bitcoin ETF flows. Source: SoSoValue

After 13 days of neutral flows marked by two rare days of outflows, BlackRock’s iShares Bitcoin Trust (IBIT) has finally posted net inflows of $15.82 million. Despite having spent the past two weeks in stasis, the fund remains the top performer with $20.92 billion in cumulative net inflows.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) reached day six of its inflow streak, netting a modest $5.06 million. With cumulative inflows totaling $9.65 billion, FBTC is ranked second amongst competitors.

Some of the smaller funds also saw humble inflows. The Franklin Templeton Digital Holdings Trust (EZBC) scored a cool $5.04 million, bringing its cumulative net inflow to $400.16 million.

VanEck Bitcoin ETF (HODL) wasn’t far behind, with $4.91 million in net inflows. The Grayscale Bitcoin Mini Trust (BTC) trailed behind the pack with $2.82 million in net inflows.

Finally, dragging the daily results down, the Grayscale Bitcoin Trust (GBTC) saw net outflows of $20.75 million. GBTC’s outflows now total a sour $20.06 billion.

Ethereum ETFs

Moving over to Ethereum ETFs, SoSoValue data shows that funds saw a total net outflow of $9.51 million on Sept. 16.

Ethereum ETF flows. Source: SoSoValue

Capturing the lion’s share of the inflows, BlackRock’s iShares Ethereum Trust (ETHA) netted a solid $4.16 million in net inflows, raising its cumulative net inflow to $1.03 billion.

Grayscale’s Ethereum Mini Trust (ETH) was the only other fund to post net inflows, tallying $2.29 million on its balance sheet.

Apart from that, every other fund ran neutral—except, of course, for the Grayscale Ethereum Trust (ETHE), which posted net outflows of $13.83 million, bringing the fund’s cumulative net outflows to $2.74 billion.

Inflows Pending?

Unlike Bitcoin ETFs, Ethereum funds are yet to “pop off” in a way that sees billions poured into their funds.

Despite Grayscale’s $20 billion in outflows, BTC ETFs have still seen a cumulative net inflow of $17.31 billion thanks to the mighty success of other competitors.

Meanwhile, ETH ETFs are in the red, with a cumulative total net outflow of—$590.73 million. While BlackRock and Fidelity are scooping up the losses from Grayscale’s Bitcoin ETF, the same cannot be said for the ETH ETF market.

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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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