As a seasoned crypto investor with a knack for deciphering market trends, I find these recent inflows and outflows of Bitcoin and Ethereum ETFs intriguing. The $28.6 million influx into Fidelity’s FBTC signals a potential shift in sentiment towards Bitcoin, which, after eight days of outflows, is like a breath of fresh air for those who believe in its long-term potential.
As an analyst, I noticed a notable reversal in trends yesterday: U.S.-based Bitcoin exchange-traded funds experienced inflows for the first time in nine days, marking a significant change after they collectively lost over $1.18 billion in assets under management during the previous eight days. This could be indicative of a potential shift in investor attitudes towards Bitcoin.
Based on information from SoSoValue, there was an inflow of $28.6 million into the 12th ranked Bitcoin exchange-traded funds on September 9th, marking a change from the consecutive eight days of outflows that were previously observed.
Starting the momentum, Fidelity’s FBTC saw an inflow of approximately $28.6 million, increasing its total inflows since inception to a staggering $9.45 billion. Notably, this comes after the fund faced outflows for the previous seven trading sessions.
Bitwise’s BITB and 21Shares’s ARKB experienced significant influxes totaling $22 million and $6.8 million respectively, while Invesco’s BTCO saw more modest inflows worth $3.1 million after a three-day pause in trading activity.
On that particular day, Grayscale’s GBTC recorded withdrawals of approximately $22.8 million, adding to its total outflows since its launch, which now exceed $20 billion. It’s worth noting that BlackRock’s IBIT, the largest Bitcoin ETF by net assets, also experienced outflows amounting to $9.1 million on the same day. The other six Bitcoin ETFs remained unchanged in this context.
On September 9th, the combined trading volume for all 12 BTC ETFs decreased to approximately $1.61 billion, marking a substantial drop compared to the $2.39 billion recorded the day prior. Since their inception, these funds have collectively experienced a net inflow of $16.92 billion. As I write this, Bitcoin (BTC) has risen by 4.2% over the past day, with its current price standing at $56,915 according to data from crypto.news.
On September 9th, there were withdrawals totaling $5.2 million from the nine Ethereum ETFs, marking the fifth straight day of such withdrawals.
Again, Grayscale’s Ethereum Trust (ETHE) experienced significant withdrawals, totaling approximately $22.6 million, pushing its overall outflows to an impressive $2.69 billion since its debut on July 23. In contrast, Fidelity’s ETH, Grayscale’s ETH, and Bitwise’s ETHW were the sole funds that attracted investments, with inflows of $7.6 million, $8 million, and $1.8 million respectively. The remaining five Ethereum-based ETFs did not record any flows for the day.
On September 9th, the daily trading volume for these investment tools decreased significantly to approximately $124.51 million compared to the previous day. Over the course of their existence, the Spot Ether ETFs have experienced a net outflow of around $573.49 million. At the time this information was published, Ethereum (ETH) was experiencing an increase of 2.6%, and its value was at $2,345 per unit in current trades.
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2024-09-10 09:18