As a seasoned analyst with years of experience navigating the intricacies of the crypto market, it’s clear that the trends in Bitcoin and Ethereum exchange-traded funds (ETFs) are reflective of broader market sentiments. The inflows into spot Bitcoin ETFs suggest a renewed interest in BTC among institutional investors, with ARK 21Shares’ ARKB leading the charge. However, the persistent outflows from Grayscale’s GBTC and the lack of activity in BlackRock’s IBIT raise concerns about investor confidence in these particular funds.
On September 12th, Bitcoin-related exchange-traded funds in the U.S. observed an increase in investments (inflows), marking a turnaround from the previous day’s trend. Conversely, Ether exchange-traded funds experienced two consecutive days of decreased investments (outflows).
Based on SoSoValue’s data, Bitcoin ETFs occupying the 12th position experienced a total of $39.02 million in investments yesterday, marking a reversal from the $43.97 million in withdrawals recorded the day prior. ARK 21Shares’ ARKB fund topped the list with an inflow of $18.3 million. This shift follows a previous day where the fund saw outflows amounting to $54 million.
Fidelity’s FBTC fund received a total of $11.5 million, making it the only one to see continuous daily inflows for four consecutive days, with a total of $115.9 million being invested. Meanwhile, Grayscale’s Bitcoin Mini Trust attracted $5.18 million in investments.
On that particular day, there were inflows of approximately $4.9 million, $3.4 million, and $2.2 million into VanEck’s HODL, Franklin Templeton’s EZBC, and Bitwise’s BITB, respectively.
Grayscale’s GBTC was the only Bitcoin ETF that experienced withdrawals last week, with approximately $6.5 million being taken out, resulting in a total withdrawal of around $20.04 billion since its inception.
During that particular day, the other seven Bitcoin Exchange-Traded Funds (ETFs), including BlackRock’s IBIT, saw no trading activity at all. Interestingly, IBIT, the largest spot Bitcoin ETF in terms of net assets, has not received any new investments since August 27th.
On September 12th, the combined trading volume for all 12 BTC ETFs decreased to approximately $896 million, marking a substantial drop compared to the $1.27 billion recorded the day before. Since their inception, these funds have collectively brought in a net inflow of $17.03 billion. As I write this, Bitcoin (BTC) is currently being traded at around $57,874, according to data from crypto.news.
Over the past two days, a total of $20.14 million was withdrawn from the nine Ethereum ETFs based in the U.S., indicating continuous daily withdrawals. This mass withdrawal came solely from Grayscale’s ETHE, while the remaining eight Ethereum funds did not experience any inflows or outflows on September 12th.
For these investment tools, the trading activity decreased significantly, going from $126.22 million the day before to $106.14 million currently. To date, the Ether ETFs have seen a total outflow of approximately $582.74 million. At the time of this writing, Ethereum (ETH) was being traded at around $2,346.
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2024-09-13 10:06