U.S. Bitcoin ETFs Attract $235 Million in Inflows Over Two Days

U.S. spot Bitcoin ETFs have recorded $235.19 million in net inflows over the past two days, driven by renewed investor interest. Fidelity’s

Written by: Arslan Butt • Tuesday, October 8, 2024 • 2 min read

• Last updated: Tuesday, October 8, 2024

U.S. spot Bitcoin ETFs have recorded $235.19 million in net inflows over the past two days, driven by renewed investor interest. Fidelity’s FBTC led the way with $103.68 million in new capital, while BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, garnered $97.88 million.

Bitwise’s BITB also saw $13.09 million in inflows, followed by Ark and 21Shares’ ARKB with $12.63 million. Overall, these ETFs experienced increased trading volume, reaching $1.22 billion on Monday, up from $1.19 billion on Friday. Meanwhile, Grayscale’s GBTC and several smaller ETFs reported no new inflows.

ETHER ETFS SEE ZERO FLOWS FOR THE SECOND TIME SINCE JULY AS BITCOIN ETFS POST BIGGEST INFLOWS SINCE SEPT 27

– The nine Ether exchange-traded funds (ETFs) in the U.S registered zero flows in either direction yesterday for the second time since their listing in July, according to… https://t.co/8Sv0Nlz044 pic.twitter.com/hVpZG9pj2k

— BSCN (@BSCNews) October 8, 2024

Ethereum ETFs Show Tepid Activity Amid Market Uncertainty

While Bitcoin ETFs flourished, U.S. spot Ethereum ETFs failed to attract new investments on Monday. This stagnation followed a relatively strong performance on Friday, which saw $7.39 million in net inflows. The nine Ethereum ETFs tracked reported a combined trading volume of $118.43 million, down from $148.01 million at the end of last week. Ethereum’s market activity remains subdued as investors await clearer economic signals and further policy direction from the Federal Reserve.

Broader Crypto Market Sentiment Remains Cautious

Overall, digital asset investment products experienced $147 million in outflows last week, as robust U.S. economic data dampened hopes for significant interest rate cuts. Bitcoin products witnessed outflows of $159 million, while Ethereum products lost $29 million in assets. Despite this trend, multi-asset products continued to attract interest, drawing $29 million in inflows, marking the 16th consecutive week of positive trends. This trend suggests that while investors are cautious about individual cryptocurrencies, diversified products remain an appealing option for those seeking broad exposure to digital assets.

📌 U.S. spot bitcoin ETFs reported $235.19 million in net inflows on Monday, extending their streak of positive flows to two days. pic.twitter.com/IP73Xm7r6A

— DeFiMaven (@Defiimavenn) October 8, 2024

Key Insights

Bitcoin ETFs See Positive Inflows: $235 million flowed into U.S. Bitcoin ETFs over two days, led by Fidelity.
Ethereum ETFs Struggle: No inflows for U.S. Ethereum ETFs, signaling investor hesitation.
Mixed Market Sentiment: Overall, digital asset products saw $147 million in outflows last week.