🌎 Bitcoin and Ethereum ETFs See Mixed Inflows and Outflows

Spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the United States saw net inflows to close the trading week, with significant inflows earlier in the week. However, ETH ETFs have experienced net outflows since their launch this summer.

Spot Bitcoin ETFs: Weekly Performance

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $92 million on Friday, Sept. 20, which is 42% lower than the $158 million inflows noted on Sept. 19. Fidelity’s FBTC led with $26.1 million in inflows, a drop from the previous day’s $49.9 million.

Following Fidelity, ARK 21Shares’s ARKB and Bitwise’s BITB saw inflows of $22 million and $15.1 million, respectively. Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR attracted $13.4 million, $7.1 million, and $5.2 million, respectively. Invesco’s BTCO also experienced modest inflows of $3.1 million after two days of no trading activity, while the remaining five BTC ETFs had no trading activity.

Since their launch in January, spot BTC ETFs have amassed $17.7 billion in total net inflows. At the time of writing, spot Bitcoin is trading at approximately $63,600.

Spot Ethereum ETFs: Weekly Performance

The nine U.S.-based spot Ethereum ETFs also recorded net inflows on Friday, totaling $2.87 million. This represents a slowdown from Thursday’s net inflows of $5.2 million. All Friday’s inflows went into Grayscale’s Ethereum Mini Trust, which saw two days of no trading activity earlier. The remaining eight ETH ETFs had no trading activity on Sept. 20 and for most of last week.

Earlier in the week, Grayscale’s other ETP, Ethereum Trust (ETHE), continued to see major outflows, as investors moved funds into Grayscale’s lower-fee Mini Trust. Since their launch in July, spot Ether ETFs have experienced a cumulative net outflow of $607.47 million. At publication time, spot Ethereum is up almost 15% for the week, trading around $2,646.

SEC Approval for BlackRock’s Bitcoin ETF Options

On Friday, Sept. 20, the U.S. Securities and Exchange Commission (SEC) granted approval for Nasdaq to list and trade options with BlackRock’s Bitcoin ETF, IBIT, as the underlying asset. According to the SEC filing, the IBIT options will be physically settled in Bitcoin. Nasdaq mentioned that the ETF options will adhere to the exchange’s listing standards.

Although the product still requires approval from the OCC and CFTC before it can be traded, ETF analysts consider this a significant development. They believe it will attract more liquidity and institutional investment into the crypto market.