As a seasoned crypto investor with a decade-long journey navigating the volatile digital asset market, I find myself intrigued by the ebb and flow of exchange-traded funds (ETFs) in the United States. While yesterday saw a slowdown in net inflows for Bitcoin ETFs, it’s essential to remember that these are just short-term fluctuations in the grand scheme of things. The resilience of BlackRock’s IBIT, the largest BTC ETF, with its $15.8 million in inflows after 10 days of no positive flows, underscores the enduring appeal of Bitcoin among investors.
Yesterday, U.S.-based Bitcoin exchange-traded funds (ETFs) noticed a decrease in net investments, while Ethereum ETFs experienced further outflows as market sentiments leaned towards bearishness.
Based on information from SoSoValue, Bitcoin ETFs occupying the 12th spot collectively saw a decrease of about 95% in net investments, moving from $263 million the day before to just $12.9 million. Once again, BlackRock’s IBIT, the largest Bitcoin ETF, took the lead with an inflow of $15.8 million, following a ten-day period where the fund did not receive any positive investments.
Fidelity’s FBTC fund received approximately $5.1 million, marking a consistent trend as it was the only fund to see net inflows for six consecutive days. A total of $223.1 million flowed into this fund during that timeframe. On the other hand, Franklin Templeton’s EZBC fund attracted $5 million in investments.
On that particular day, both VanEck’s HODL fund and Grayscale’s Bitcoin Mini Trust experienced an inflow of funds, with VanEck’s HODL receiving approximately $4.9 million and Grayscale’s Bitcoin Mini Trust gaining around $2.8 million.
Grayscale’s GBTC was the sole spot Bitcoin ETF to report outflows, with $20.8 million leaving the fund, culminating in total outflows of $20.06 billion since its launch. The remaining six BTC ETFs witnessed no trading activity.
On September 16th, the combined trading volume for all 12 BTC ETFs declined to around $1.1 billion, marking a substantial drop compared to the $1.82 billion traded the day before. Since their launch, these funds have collectively brought in a net inflow of approximately $17.31 billion. Currently, Bitcoin (BTC) is holding steady at roughly $58,521 according to data from crypto.news.
Yesterday, September 16th, saw a continued trend of withdrawals for the nine Ethereum ETFs based in the U.S., amounting to $9.51 million. This comes after inflows were observed the previous day. The majority of these daily withdrawals, approximately $13.8 million, originated from Grayscale’s ETHE fund, while Bitwise’s ETHW also experienced outflows totaling $2.1 million.
On that specific day, the outgoing funds were somewhat balanced by the intake of $4.2 million into BlackRock’s ETHA and an additional $2.3 million into Grayscale Ethereum Mini Trust.
The trading volume for these investment vehicles also decreased, dropping to $128.02 million on Sept. 16 from $147.64 million seen the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $590.73 million to date. At the time of publication, Ethereum (ETH) was exchanging hands at $2,299.
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2024-09-17 10:15