Key Points
- US spot Bitcoin ETFs saw a significant increase in net inflows on September 24, while spot Ether ETFs reversed to positive flows.
- BlackRock’s IBIT led the Bitcoin ETFs influx, while most Ether inflows went into BlackRock’s ETHA.
Bitcoin ETFs Witness Increased Net Inflows
On September 24, US-based spot Bitcoin exchange-traded funds (ETFs) experienced a substantial rise in net inflows.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $135.95 million on the day. This marks the fourth consecutive day of positive inflows, accumulating more than $390.7 million during this period.
Leading Contributors to the Inflows
IBIT, BlackRock’s largest Bitcoin ETF, led the inflows with $98.9 million. This marked its second consecutive day of positive inflows, bringing its total net inflows to $21.03 billion to date.
BITB by Bitwise and FBTC by Fidelity followed, with inflows of $17.4 million and $16.8 million respectively. Grayscale Bitcoin Mini Trust also attracted $2.9 million.
The remaining eight Bitcoin ETFs, including Grayscale’s GBTC, remained neutral. The total trading volume for the 12 Bitcoin ETFs soared to $1.11 billion on September 24, higher than the $949.72 million seen the previous day.
Since their launch, these funds have recorded a cumulative total net inflow of $17.83 billion. At the time of writing, Bitcoin (BTC) had risen 1.6% over the past day, trading at $64.196.
Ethereum ETFs Also See Positive Inflows
On the same day, the nine US-based spot Ethereum ETFs logged net inflows of $62.5 million. This was a reversal from the net negative flows seen the previous day.
Most of the inflows went into BlackRock’s ETHA, which saw $59.3 million added to the fund. VanEck’s ETHV and Invesco’s QETH also drew in modest inflows of $1.9 million and $1.3 million respectively.
The remaining Ethereum ETFs saw no trading activity on the day. The trading volume for these investment vehicles jumped to $180.42 million on September 24 from $167.35 million seen the previous day.
The spot Ether ETFs have experienced a cumulative total net outflow of $624.17 million. At the time of writing, Ethereum (ETH) was trading at $2,623.