As a seasoned analyst with over two decades of experience in the financial industry, I find myself intrigued by these recent trends in Bitcoin and Ethereum exchange-traded funds (ETFs). The surge in net inflows for Bitcoin ETFs is undeniably noteworthy, particularly the consistent growth in Fidelity’s FBTC. It seems like we’re witnessing a new chapter in the Bitcoin narrative unfold.
On September 17th, U.S.-listed Bitcoin exchange-traded funds experienced a significant 13-fold increase in net investments, whereas Ethereum-based ETFs in the U.S. registered outflows for two days in a row.
Based on SoSoValue’s findings, Bitcoin ETFs in the 12th position saw a significant increase in investments, totaling approximately $186.76 million – an impressive 1360% jump from the $12.9 million inflows experienced the day prior. Leading this surge was Fidelity’s FBTC fund, which received $56.6 million in new investments. Remarkably, this ETF has recorded daily inflows for seven consecutive days, with a total of $279.7 million being poured into it.
45.4 million dollars flowed into Bitwise’s BITB and ARK Invest’s fund, with 42.2 million dollars going to 21Shares’ ARKB. Furthermore, VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC received inflows of 20.5 million, 10.2 million, and 8.7 million dollars, respectively.
Yesterday, I noticed a modest influx of approximately $3.2 million into WisdomTree’s BTCW fund, marking the first such investment since August 27th. Interestingly, the remaining five Bitcoin ETFs, including BlackRock’s IBIT, remained inactive on that day.
On September 17th, the combined trading volume for all 12 BTC ETFs experienced a substantial increase to approximately $2.27 billion, marking a significant jump compared to the $1.1 billion recorded the day before. Since their launch, these funds have collectively attracted a net inflow of $17.5 billion. As I write this, Bitcoin (BTC) has risen by 3.2% over the past day and is currently being traded at $60,348, according to data from crypto.news.
On September 17th, the nine Ethereum ETFs based in the U.S. collectively experienced a withdrawal of $15.11 million, marking the second consecutive day of outflows. All of this day’s outflows stemmed from Grayscale’s ETHE fund, with an amount of $17.9 million being withdrawn.
On that particular day, the Grayscale Ethereum Mini Trust recorded inflows worth approximately $2.8 million, helping to somewhat balance out the outflows we observed. Meanwhile, the other seven Ethereum ETFs maintained a neutral position.
As a researcher, I’ve noticed an intriguing surge in trading volume for these investment vehicles. Yesterday’s figure was $129 million, but today it has skyrocketed to an impressive $176.2 million. Additionally, the Spot Ether ETFs have witnessed a significant net outflow of approximately $605.84 million since their inception. At the time of writing this, Ethereum (ETH) is experiencing a 1.3% increase, currently trading at around $2,327.
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2024-09-18 10:03