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Cryptocurrency News Articles
Bitcoin and Ethereum ETFs Pull in Billions: A Week of Record Inflows
Sep 28, 2024 at 06:00 pm
Recent data shows a surge in inflows, with Bitcoin ETFs leading the charge and Ethereum ETFs following with inflows as well which was largely unusual
Bitcoin and Ethereum ETFs saw record inflows this week, as investors continue to pile into the cryptocurrency market.
According to data from ETF Flows, Bitcoin spot ETFs saw inflows of $494.4 million on September 27, while Ethereum ETFs attracted $58.7 million in inflows on the same day.
This marks the largest weekly inflows into Bitcoin ETFs since July 19, and the highest inflows into Ethereum ETFs since early August.
Bitcoin ETFs
ARK 21Shares (ARKB) led the inflows among Bitcoin ETFs this week, attracting $203.1 million. Fidelity (FBTC) was not far behind, seeing inflows of $123.6 million. BlackRock (IBIT) also had a strong showing, with inflows of $110.8 million.
Other Bitcoin ETFs that saw inflows this week include Grayscale (GBTC) with $26.2 million, Bitwise (BITB) with $12.9 million, and VanEck (HODL) with $11.2 million. Even smaller ETFs like Invesco (BTCO) and Valkyrie (BRRR) each managed to attract inflows of $3.3 million.
However, not all Bitcoin ETFs saw inflows this week. Franklin (EZBC), Grayscale Mini (BTC), and WisdomTree (BTCW) did not receive any new investments during this period.
Bitcoin ETFs in total saw inflows of $494.4 million this week, while Ethereum ETFs attracted a total of $58.7 million in inflows.
Ethereum ETFs
Turning to Ethereum ETFs, Fidelity (FETH) once again led the inflows with $42.5 million. BlackRock (ETHA) also saw inflows of $11.5 million.
Other Ethereum ETFs that saw inflows this week include Bitwise (ETHW) with $5.4 million, Invesco (QETH) with $4.3 million, and the Grayscale Mini (ETH) which saw inflows of $2.3 million.
Interestingly, Grayscale (ETHE) saw outflows of $10.7 million this week. This suggests that some investors may be jumping ship from the Grayscale fund, although it is unclear why without further data.
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