Bitcoin ETFs Rebound with Massive Inflows as Ethereum ETFs Struggle Amid Investor Uncertainty

Spot Bitcoin exchange-traded funds in the US had net inflows of $253.6 million on October 11, after a string of three trading days in which they had seen withdrawals.

Bitcoin exchange-traded funds (ETFs) in the United States saw a massive inflow of $253.6 million on Oct. 11, led by large contributions from Fidelity and ARK 21Shares. In contrast, Ethereum ETFs showed almost no activity, highlighting a stark difference in investor interest.

Bitcoin ETFs recover with massive inflows

Spot Bitcoin ETFs in the US saw a net inflow of $253.6 million on Oct. 11, following three trading days of outflows.

Breaking down the inflows, the ARK 21Shares Bitcoin ETF received $97.6 million, while the Fidelity Wise Origin Bitcoin Fund led the pack with $117.1 million.

ARK, Fidelity spearhead the inflows

Among other Bitcoin ETFs, the Bitwise Bitcoin ETF saw its largest inflow in eleven trading days at $38.8 million, and the Invesco Galaxy and VanEck Bitcoin ETFs also received inflows.

Bitcoin ETFs from Franklin Templeton, WisdomTree, and Valkyrie all showed a "0" flow on the day, including BlackRock's iShares Bitcoin Trust (IBIT) ETF.

This marked the third-largest combined inflows into Bitcoin ETFs while BlackRock's IBIT showed no activity.

Grayscale trust sees outflows as Bitcoin rallies

Meanwhile, the Grayscale Bitcoin Trust lost $22.1 million.

Despite seeing outflows of $140 million on Oct. 8 and 10, the outflows were largely covered by the massive $253.6 million inflows into Bitcoin ETFs.

As Bitcoin price rose to a local high of $63,360 on Oct. 11 before dropping to the current price of $62,530, it followed a 7.3% rally in the morning, CoinGecko data showed.

BlackRock leads in Bitcoin ETF launches as Grayscale trust sees outflows

On the other hand, seven out of nine U.S.-based spot Ether ETFs reported a "0" on Oct. 11 — marking the third occurrence in the last five trading days.

Net outflows from spot Ether ETFs amounted to $0.1 million on Oct. 11, with all inflows coming into the Fidelity Ethereum Fund, Farside Investors data showed.

Grayscale Ethereum Trust lost $8.7 million.

Lack of demand plagues Ether ETFs

Spot Ether ETFs from 21Shares, VanEck and Invesco saw minimal activity with at least eight days of "0" flows.

In a recent interview with Cointelegraph, Bitstamp Americas CEO Bobby Zagotta highlighted the poor demand for spot Ether ETFs compared to spot Bitcoin ETFs, suggesting that the launches may have been timed poorly.

Others have pointed to the highly technical nature of Ethereum's roadmap, which may make it difficult for Wall Street investors to fully grasp and value Ether.