Highlights:
- Bitcoin ETFs hit six straight days of gains, attaining the highest net inflow since July 23.
- Ethereum ETFs registered losses after two days of consecutive gains.
- Bitcoin finally broke above $65,000, as Ethereum remained below $3,000.
Bitcoin (BTC) Exchange-Traded Funds (ETFs) have achieved six consecutive days of trading profits, with a strong rebound in their most recent flow data. According to on-chain tracker Spotonchain, Bitcoin ETFs saw $364.8 million in gains on September 26, marking the commodities’ highest net inflows since July 23.
On the other hand, Ethereum (ETH) ETFs have switched to net outflows after two consecutive days of recording gains. Spotonchain noted that ETH ETFs witnessed a subtle $0.5 million in losses. Contrary to previous flow data, BTC and ETH ETFs saw heightened activities yesterday, underscoring a busy trading day.
🇺🇸 Spot ETF: 🟢$364.8M to $BTC and 🔴$0.5M to $ETH
🗓️ Sep 26, 2024👉 The BTC ETFs just experienced the biggest net inflow since July 23.
👉 #BlackRock (IBIT) added a total of 5,873 $BTC ($376M) to its holdings over the past 3 days, now holding ~363.6K $BTC ($23.7B).
Follow… pic.twitter.com/kPF7VuBQ15
— Spot On Chain (@spotonchain) September 27, 2024
ARKB Leads Bitcoin ETFs Profits Surge with Over $100M in Capital Inflows
On September 26, ten out of eleven Bitcoin ETFs recorded activities, as WisdomTree Bitcoin ETF (BTCW) was the only entity with zero flows. Meanwhile, among the ten active commodities, only Grayscale Bitcoin ETF (GBTC) welcomed losses with 7.7 million in outflows.
For gains, ARK 21Shares Bitcoin ETF (ARKB), BkackRock Bitcoin ETF (IBIT), Fidelity Bitcoin ETF (FBTC), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin ETF (HODL) all witnessed profits above $20 million. For context, they welcomed gains of about $113.8 million, $92.5 million, $74 million, $50.4 million, and $22.1 million, respectively.
Notedly, four other commodities welcomed profits of less than $10 million. They include Invesco Bitcoin ETF (BTCO) with $6.5 million, Franklin Bitcoin ETF (EZBC) with $5.7 million, Valkyrie Bitcoin ETF (BRRR) with $4.6 million, and Grayscale Mini Bitcoin ETF (GBTC) with $2.9 million.
Over the past few days, BlackRock Bitcoin ETF has emerged as one of the best performers. In the past three days, it added a whopping 5,873 BTC worth approximately $376 million to its massive holdings. Following its latest exploits, IBIT boasts 363.6K BTC, with about $23.7 billion in net valuation.
BlackRock execs actively pushing #Bitcoin on Bloomberg.
2 years ago this was unthinkable, and now it’s a weekly thing.
“Bitcoin is a scarce, global, decentralised, non-sovereign asset.”
– BlackRock’s Head of Digital Assets pic.twitter.com/rKLd8gJIwD— Bitcoin Archive (@BTC_Archive) September 25, 2024
With the latest flow data, Bitcoin ETF cumulative net inflow has soared considerably, hitting $18.31 billion. The total value traded reflected $2.43 billion, while total net assets have hit $60.03 billion. The booming total net assets now represent 4.7% of Bitcoin’s $1.29 trillion market capitalization.
FETH Tops Inflows Chart for ETH ETFs
Ethereum ETFs saw activities from seven out of nine commodities. Grayscale Mini Ethereum ETF (ETH) and Franklin Ethereum ETF (EZET) recorded zero activities. Like Bitcoin, only Grayscale Ethereum ETF (ETHE) witnessed losses with about $36 million in outflows.
The remaining six commodities welcomed gains. However, none was above $20 million. Only Fidelity Ethereum ETF (FETH) and BlackRock Ethereum ETF (ETHA) saw inflows above $10 million. For context, both registered $15.9 million and $14.9 million, respectively, in profits. Other Ethereum ETFs that witnessed inflows were Invesco Ethereum ETF (QETH), VanEck Ethereum ETF (ETHV), Bitwise Ethereum ETF (ETHW), and 21Shares Ethereum ETF (CETH). They recorded profits of about $2 million, $1 million, $1 million, and $0.7 million, respectively.
Bitcoin Breaks Above $65,000 as Ethereum Remains Below $2,700
At the time of writing, Bitcoin is up by about 2.8% in the past 24 hours, reflecting about $65,500 in selling price. Its trading volume is also up by about 56.11%, with a $38.59 billion valuation. On the other hand, Ethereum is changing hands at about $2,660, reflecting a 1.5% upswing in the past 24 hours. In its 24-hour trading volume, ETH is up by about 22.54% with a $17.52 billion valuation.