Bitcoin and Ethereum ETFs Flow Green, Grayscale Leads Outflows

Key Takeaways

• Bitcoin ETFs hold $57.73 million in net assets or 4.68% of BTC’s market cap.
• Ethereum ETFs now command $6.66 billion in net assets or 2.28% of ETH’s market cap.
• Grayscale’s primary BTC and ETH ETFs have combined outflows of $23.1 billion.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) ended last week with a modest $32.98 million in combined inflows on  Oct. 4, 2024, despite overtly bearish conditions pushing down the market.

Bitcoin ETFs

As per data from SoSoValue, Bitcoin ETFs wrapped the week with $25.59 million in cumulative net inflows on Oct. 4.

Bitcoin ETF flows. Source: SoSoValue

Up top, Bitwise’s Bitcoin ETF (BITB) relished a humble $15.29 million in net inflows, bringing its cumulative net inflows to $2.11 billion.

Close behind is Fidelity’s Wise Origin Bitcoin Fund (FBTC), which gained $13.63 million in net inflows. Although FBTC is the second-best performing BTC ETF by cumulative net inflow with $9.85 billion, the fund has already lost over $180 million in outflows so far this month.

The ARK 21Shares Bitcoin ETF (ARKB) saw just $5.29 million in net inflows after a 4-day outflow streak knocked over $200 million off its portfolio. The VanEck Bitcoin ETF (HODL) also netted $5.29 million in inflows, raising its cumulative net inflows to $639.67 million.

As for outflows, the Grayscale Bitcoin Trust (GBTC) saw a further $13.91 million in exits, bringing its cumulative net outflows to $20.14 billion.

Ethereum ETFs

According to SoSoValue, ETH ETFs captured $7.39 million in net inflows on Oct. 4.

Ethereum ETF flows. Source: SoSoValue

Taking home a vast majority of the day’s gains, BlackRock’s iShares Ethereum Trust (ETHA) secured $14.72 million in net inflows. The IBIT fund is the most successful ETH ETF by far, with cumulative net inflows of $1.19 billion.

The Bitwise Ethereum ETF (ETHW) was the only other fund to post net inflows, bagging a very modest $871,300. The fund, which has a cumulative net inflow of $326.65 million, hasn’t seen a day of inflows exceeding $10 million since July 29.

More or less undoing the day’s gains, once again, the Grayscale Ethereum Trust (ETHE) hit day seven of its renewed outflow streak, shedding $8.2 million from its portfolio. So far, ETHE has seen $2.96 billion in cumulate net outflows.

Bitcoin & Ethereum Price

These figures follow a week of mixed market conditions that saw BTC soar back up to the $65,000 price tag, only to then tumble back to $60,000 on Oct. 4.

That said, it may have only been a temporary knee-jerk response to geopolitical woes , as BTC bulls are now pushing it above $63,000 following this weekend’s rally.

Ethereum has somewhat recovered from last week’s lows of around $2,300 and is currently trading at $2,641. However, looking at ETH’s recent trends, it could still be some time before it retakes $3,000