Bitcoin and Ethereum ETFs Set New Weekly Inflow Records, GBTC Registers Outflow

Following the approval of the US-based spot Bitcoin exchange-traded funds (ETFs) in January 2024, the crypto crowd felt it was only a matter of time before

The US-based spot Bitcoin exchange-traded funds (ETFs) experienced a total net inflow of $429 million on Friday, December 13, marking the 12th consecutive day the crypto products experienced a net capital inflow, according to the latest market data from SoSoValue.

Unsurprisingly, BlackRock’s iShares Bitcoin Trust (with the ticker IBIT) was largely responsible for Friday’s capital influx. The leading BTC exchange-traded fund added more than $393 million in value to close the week.

Fidelity’s FBTC came in second with nearly $60 million capital inflow, followed by Bitwise’s BITB $33.2 million influx. Ark & 21Shares’ ARKB and VanEck’s HODL also registered $28.41 and $8.62 million, respectively.

It is worth mentioning that Grayscale’s GBTC was the only fund that recorded an outflow, with $105.76 million withdrawn on the day.

Nevertheless, the $428 million single-day performance brought the Bitcoin ETFs’ weekly record to $2.17 billion. As of this writing, BTC is valued at around $101,367, with no significant change in the last 24 hours. According to CoinGecko data, the premier cryptocurrency is up by about 2% in the past week.

Meanwhile, the US-based spot Ethereum ETFs recorded a total net influx of $23.6 million on Friday, representing the funds’ 15th straight day of positive inflows.

BlackRock’s Ethereum Fund (with the ticker ETHA) led the pack with a single-day inflow of $9.5069 million.

While none of the Ethereum exchange-traded funds registered an outflow on Friday, only two other products (besides BlackRock’s) saw capital inflows on the day. Grayscale’s ETHE and Fidelity’s FETH added $7.24 million and $6.86 million, respectively.

Interestingly, this single-day performance paled in comparison to other days in the week, where the Ethereum ETFs recorded $854.85 million. However, it was enough to push the crypto products to a new weekly inflow record.

The continuous influx of capital into the Ethereum ETF market is a testament to the growing ETH demand, which has been reflected in the price. As of this writing, the price of Ethereum stands at around $3,870, reflecting an almost 1% decline in the past 24 hours.