Bitcoin and Ethereum ETFs See Major Inflows After Outflow Streak

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced a significant increase in net positive flows, while spot Ether ETFs also recorded net inflows, ending their five-day outflow streak.

According to data from SoSoValue, the 12 spot Bitcoin ETFs saw inflows of $116.96 million on Sep. 10, a surge of over four times compared to the $37.29 million inflows recorded the previous day. These positive inflows followed eight consecutive days of outflows, which had reduced their total assets under management by more than $1.18 billion.

Fidelity’s FBTC led the inflows for the second consecutive day with $63.2 million on Sep. 10. Grayscale Bitcoin Mini Trust and ARK 21Shares’s ARKB followed with inflows of $41.1 million and $12.7 million, respectively. The remaining nine Bitcoin ETFs remained neutral.

Interestingly, none of the BTC ETFs recorded any outflows on the day, a scenario not seen since July 16.

Total daily trading volume for the 12 spot Bitcoin ETFs dropped to $712.25 million on Sep. 10, down 56% from $1.61 billion the previous day. At the time of writing, Bitcoin was down 1% over the past day, trading at $56,276.

Meanwhile, the nine-spot Ethereum ETFs logged net inflows of $11.4 million on Sep. 10, marking an end to five consecutive days of net negative flows. Fidelity’s FETH led these inflows, with $7.1 million entering the fund. Additional inflows were recorded by BlackRock’s ETHA with $4.3 million. The remaining seven ETH ETFs saw no flows on the day.

These investment vehicles also saw their daily trading volume drop to $102.87 million on Sep. 10, a decline from the previous day. The spot Ether ETFs have experienced a cumulative net outflow of $562.06 million to date. At the time of publication, Ethereum was down 0.8%, trading at $2,326.

Despite the recent inflows into these ETFs, there are signs of waning institutional interest in Ethereum-based products. VanEck recently closed its Ethereum Strategy ETF after less than a year, and WisdomTree withdrew its application for a spot Ethereum ETF with the U.S. Securities and Exchange Commission.

For more updates on cryptocurrency trends and investment insights, stay tuned to Global Crypto News.