Bitcoin ETFs Net $190M Inflows, Ethereum ETF Outflows Led by Grayscale
- Bitcoin ETFs now command $54.84 billion in net assets or 4.62% of BTC’s market cap.
- Ethereum ETFs hold $6.41 billion in net assets or 2.27% of ETH’s market cap.
- Grayscale’s primary BTC and ETH funds have over $22.75 billion in combined outflows.
U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) are back in the groove with yet another sizeable day of net inflows. Meanwhile, Ethereum (ETH) funds are struggling to find their feet with no thanks to Grayscale’s outflows.
Bitcoin ETFs
As per data from SoSoValue, BTC ETFs are returning to form with a total net inflow of $186.76 million on Sept. 17, marking day 4 of a renewed inflow streak.
Bitcoin ETF flows. Source: SoSoValueLeading the pack of today’s gainers is Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $56.61 million, raising its cumulative inflows to $9.7 billion.
Bitwise Bitcoin ETF (BITB) trailed closely behind with $45.35 million, followed by ARK 21Sares’ Bitcoin ETF (ARKB), which posted $42.17 million in net inflows.
The VanEck Bitcoin ETF (HODL) captured $20.48 million of the day’s inflows, and Invesco Galaxy’s Bitcoin ETF (BTCO) made a rare appearance with a modest $10.19 million in net inflows.
As for the smaller gainers, the Franklin Templeton Digital Holdings Trust (EZBC) caught $8.74 million in net inflows on day four of its longest inflow streak since March 27. The WisdomTree Bitcoin Trust (BTCW) also made a rare showing, netting a humble $3.2 million to its fund.
Surprisingly, that’s all. Not a single fund recorded net outflows, and the remaining ETFs, including outflow champ Grayscale, were neutral for the day.
ETH ETFs
As per SoSoValue, ETH ETFs saw net outflows of $15.11 million on day two of their outflow streak.
Bitcoin ETF flows. Source: SoSoValueJust one ETH fund saw net inflows, the Grayscale Mini Ethereum Trust (ETH), which bagged just $2.77 million.
On the other hand, the Grayscale Ethereum Trust (ETHE) once again posted net outflows, shedding $17.89 million from its portfolio.
With $2.75 billion in cumulative net outflows, ETHE has (almost) singlehandedly dragged the Ethereum ETF flow results down with its ceaseless outflows.
Since launching, ETHE has seen just four days of neutral flows and not one day of net inflows. Seemingly, Grayscale’s lower-fee “mini fund” gambit isn’t paying off.
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.
You may also like
Bitcoin Hits $77,000, Surging to a New All-Time High
WIF breaks through $2.5
Ethereum devs mark milestone ahead of Devcon
Ethereum’s 200th ACD call brought updates on the Pectra upgrade and the new Mekong testnet — just in time for Devcon in Thailand
Synthetix perps DEX acquires Kwenta to unify ‘strategic priorities’ of both protocols
As part of SIP-411, KWENTA tokens will be redeemable for SNX and subsequently deprecated