Bitcoin ETFs attract $371M while Ethereum funds see $12.7M outflow

According to data from Tuesday’s trading sessions, Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) continued to see strong inflows, while Ethereum-based (CRYPTO:ETH) funds recorded notable outflows. 

The latest figures show that 12 spot Bitcoin ETFs accumulated a total of $371.02 million in inflows, reflecting continued investor interest. 

In contrast, nine Ethereum ETFs experienced a net outflow of $12.7 million, marking a day of losses for these funds. 

Leading the inflows among Bitcoin ETFs was Blackrock’s IBIT, which added $288.84 million, increasing its net inflows to $22.07 billion. 

Fidelity’s FBTC followed with $35.03 million, and Ark Invest and 21shares’ ARKB brought in $14.68 million. 

Other notable contributors included Grayscale’s Bitcoin Mini Trust with $13.36 million and GBTC with $7.99 million. 

Overall, the cumulative net gains for Bitcoin ETFs since January 11 now stand at $19.73 billion. 

As of October 16, the 12 funds collectively hold $63.13 billion in Bitcoin reserves, making up 4.8% of the cryptocurrency’s total market capitalization. 

Ethereum funds, on the other hand, did not perform as well. 

The sector saw $12.7 million flow out of the nine ETFs, with Grayscale’s ETHE contributing the most to the decline, reporting $15.29 million in outflows. 

Fidelity’s FETH was the only Ethereum fund to show gains, managing to absorb $2.59 million. 

No other funds reported significant inflows or outflows on the day. 

The recent losses have added to a trend of outflows from Ethereum-based ETFs, with cumulative net losses reaching $554.52 million since July 23. 

Approximately $235.56 million was traded across the nine Ethereum funds on Tuesday, with their collective holdings amounting to $7.1 billion. 

This represents 2.29% of Ethereum’s market cap as of October 16, 2024.

At the time of writing, the Bitcoin (BTC) price was $67,306.81, and the Ethereum (ETH) price was $2,627.64.