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Crypto

Bitcoin ETFs Add $390M; Ethereum Rebounds

On September 24, spot Bitcoin exchange-traded funds in the United States experienced a substantial increase in net inflows, while spot Ether ETFs reversed course and returned to net positive flows

Data from SoSoValue indicates that the 12 Bitcoin ETFs in the top position experienced net inflows of $135.95 million on the day in question, representing the fourth consecutive positive inflows. The funds have amassed over $390.7 million during this time.

IBIT, the most significant Bitcoin ETF managed by BlackRock, led the inflows with $98.9 million, marking its second consecutive day of positive inflows and bringing its total net inflows to $21.03 billion.

Bitwise’s BITB and Fidelity’s FBTC followed with $17.4 million and $16.8 million, respectively, inflowing into their respective funds. The Grayscale Bitcoin Mini Trust attracted $2.9 million.

All eight remaining BTC ETFs, including Grayscale’s GBTC, maintained a neutral stance on the day.

On September 24, the total trading volume for the 12 BTC ETFs increased to $1.11 billion, surpassing the $949.72 million recorded the previous day.

Since their inception, these funds have recorded a cumulative total net inflow of $17.83 billion. At the time of publication, the stock was trading at $64.196, having increased by 1.6% the previous day.

Concurrently, the nine Spot Ethereum ETFs domiciled in the United States experienced net inflows of $62.5 million on September 24, a significant contrast to the net negative flows observed the previous day.

BlackRock’s ETHA received most of the inflows, with $59.3 million added to the fund.

Invesco’s QETH and VanEck’s ETHV also recorded modest inflows of $1.9 million and $1.3 million, respectively. There was no trading activity in the remaining ETH ETFs on the day in question.

On September 24, the trading volume for these investment vehicles increased from $167.35 million the previous day to $180.42 million.

A cumulative total net outflow of $624.17 million has been observed in the spot Ether ETFs. Ethereum was trading at $2,623 at the time of publication.

Hillary Ondulohi

Hillary is a media creator with a background in mechanical engineering. He leverages his technical expertise to craft informative pieces on protechbro.com, making complex concepts accessible to a wider audience.

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