BTC -1.13%
$62,446.14
ETH -1.06%
$2,428.48
SOL -2.40%
$143.63
PEPE -6.97%
$0.0000096
SHIB -3.69%
$0.000017
BNB 0.02%
$572.19
DOGE -3.88%
$0.10
XRP -1.05%
$0.52
Pepe Unchained ($PEPU)
The Hottest Presale

US Spot Bitcoin ETFs See $117M in Inflows, Ethereum ETFs Register $11M

Bitcoin ETFs Ethereum
Fidelity’s Bitcoin Fund (FBTC) led the surge, attracting $63 million in net inflows.
Last updated:
Author
Author
Ruholamin Haqshanas
About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Last updated:
Why Trust Cryptonews
With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews

US spot Bitcoin exchange-traded funds (ETFs) saw inflows of approximately $117 million on Tuesday, marking a rebound after a recent period of outflows.

Fidelity’s Bitcoin Fund (FBTC) led the surge, attracting $63 million in net inflows, according to data from Farside Investors.

The boost brings the fund’s total net inflows to $9.5 billion after eight months of trading.

FBTC now holds $10.5 billion in Bitcoin, positioning it as the third-largest Bitcoin ETF, trailing BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC).

More Bitcoin Funds See Inflows

Other funds also saw strong performances. Grayscale’s Bitcoin Mini Trust (BTC), a lower-cost version of GBTC, and ARK Invest’s Bitcoin ETF (ARKB) attracted $41 million and $13 million, respectively.

However, BlackRock’s IBIT and other major Bitcoin ETFs experienced no inflows during Tuesday’s session.

The recent inflows follow a period of significant outflows, which began in late August and stretched into early September.

Over $1 billion was withdrawn during this time, with BlackRock’s IBIT suffering its second outflow since launching in January.

Despite these challenges, IBIT remains a dominant force, holding over $20 billion in assets.

In parallel, US spot Ethereum ETFs made a modest recovery, registering around $11 million in net inflows on Tuesday.

Fidelity’s Ethereum Fund (FETH) had an inflow of $7.1269 million, while BlackRock’s iShares Ethereum Trust (ETHA) had an inflow of $4.3101 million.

Other Ethereum ETFs saw no movement.

Despite recent outflows, crypto-related ETFs continue to dominate the ETF market.

Out of the 400 new ETFs launched in 2024, the top four are all spot Bitcoin ETFs.

Notable offerings include BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, the ARK 21Shares Bitcoin ETF, and Bitwise’s Bitcoin ETF Trust.

Likewise, the iShares Ethereum Trust ETF became the seventh-largest ETF launch in 2024, surpassing $1 billion in inflows as of August.

Digital Asset Products See Largest Outflows Since March

As reported, digital asset investment products have experienced a significant downturn, with outflows totaling $726 million over the past week.

The figure matches the largest recorded outflow, which occurred in March of this year.

Bitcoin was hit particularly hard by the recent downturn, experiencing outflows totaling $643 million.

Interestingly, short-Bitcoin products saw minor inflows of $3.9 million, indicating that some investors are still hedging against further price drops in the leading cryptocurrency.

Ethereum also faced significant losses, with outflows reaching $98 million.

Much of this came from the Grayscale Ethereum Trust, a major player in the market.

Historically, September has been a tough month for Bitcoin, as its performance tends to weaken during this period, a trend known in the cryptocurrency community as “Rektember.”

In contrast, “Uptober” refers to the often positive price action seen in October.

More Articles

Blockchain News
Assetera and Archax Team up to Distribute Tokenized Assets in Europe 
Tanzeel Akhtar
Tanzeel Akhtar
2024-10-08 09:00:00
Bitcoin News
U.S. Spot Bitcoin ETFs See $235M in Net Inflows, Extending Positive Streak to Two Days
Ruholamin Haqshanas
Ruholamin Haqshanas
2024-10-08 07:40:16