BTC and ETH ETFs See Inflows, But Week Ends in Losses

Highlights:

• BTC and ETH ETFs recorded inflows on the last trading day. However, they concluded the week with losses.
• Bitcoin ETFs saw about $25.6 million in profits in its most recent flow data, while its ETH counterpart registered $7.4 million in gains.
• Bitcoin and Ethereum prices remain below crucial levels despite efforts to break through.

According to the renowned on-chain tracker, Spotonchain, Bitcoin (BTC), and Ethereum (ETH) Exchange Traded Funds (ETFs) saw net inflows on the last trading day of the week. Unfortunately, the recorded gains failed to salvage the Bitcoin and Ethereum commodities week as both ended in losses.

For context, Bitcoin ETFs statistics for October 4 read about $25.6 million in net inflows, bringing its profitable trading days to two out of five. Consequently, the netflow for the week read approximately $302 million in losses.

On its part, Ethereum ETFs witnessed only $7.4 million in profits to conclude the week with roughly $30.4 million in weekly losses. Like BTC, ETH commodities only registered net inflows in two out of five market outings.

🇺🇸 Spot ETF: 🟢$25.6M to $BTC and 🟢$7.4M to $ETH
🗓️ Oct 4, 2024

👉 The total flow for BTC ETFs this week is -$302M, with outflows on 3 out of 5 trading days.

👉 The total flow for ETH ETFs this week is -$30.4M, also with outflows on 3 out of 5 trading days.

Follow… pic.twitter.com/2KJ5jueFEG

— Spot On Chain (@spotonchain) October 5, 2024

Details of Bitcoin ETFs $25.6 Million Net Inflows

In its most recent flow data, only five entities were active. Four registered gains, while only Grayscale Bitcoin ETF (GBTC) recorded outflows at approximately $13.9 million. For inflows, Bitwise Bitcoin ETF (BITB) topped the chart with about $15.3 million in profits.

Aside from BITB, other entities that witnessed inflows include Fidelity Bitcoin ETF (FBTC) with $13.6 million, VanEck Bitcoin ETF (HODL) with $5.3 million and ARK 21Shares Bitcoin ETF (ARKB) with $5.3 million.

Following the recent flows, Bitcoin’s cumulative net inflow witnessed slight increments, bringing its new valuation to about $18.5 billion. The total traded value was about $1.19 billion, while the total net assets reflected $57.73 billion. The total net assets valuation represented 4.68% of Bitcoin’s market capitalization.

ETHA Leads Inflows for Ethereum ETFs

Like Bitcoin, Ethereum ETFs saw minimal activities from just three entities. Interestingly, BlackRock Ethereum ETF (ETHA), with $14.7 million, and Bitwise Ethereum ETF (ETHW), with $0.9 million, recorded the only inflows. For losses, Grayscale Ethereum ETF witnessed the only outflows at roughly $8.2 million.

Consequently, the cumulative net inflow saw a slight appreciation, spiking its valuation to approximately $553.66 million. Meanwhile, the total value traded reflected $148.01 million, while total net assets were roughly $6.66 billion. The net assets valuation represented 2.28% of Ethereum’s entire worth.

Bitcoin Price Continues to Stage Subtle Recovery Amid Unfavourable Conditions

At the time of writing, Bitcoin is changing hands at approximately $62,000, reflecting a slight 0.2% dip in the past 24 hours. Within the same time frame, Bitcoin saw upper and lower price limits ranging between $61,796.61 – $62,451.00. Interestingly, the 24-hour price extremes underscore the token’s resilience in the face of the worrying market condition.

Aside from the 24-hour-to-date decline, other price change variables recorded drops aside from the 30-day-to-date data that maintained a 10.6% upswing. For context, the 7-day-to-date and 14-day-to-date statistics saw declines of about 5.4% and 2.1%, respectively.

Ethereum Remains Below $2,500

Like Bitcoin, Ethereum has shown strength as it navigates its path upwards. The world’s number one altcoin boasts about $2,400 in selling price, mirroring a slight 0.2% drop in the past 24 hours. In its 7-day-to-date and 14-day-to-date price fluctuation data, ETH saw depreciation of approximately 9.6% and 6.2%, respectively.

Meanwhile, the 30-day-to-date variable saw roughly 1.4% in upswing. In other relevant statistics, Ethereum has a market capitalization of about $290.1 billion. Its 24-hour trading volume is down by about 44.57% with a $8.5 billion valuation.