Highlights:
- BTC ETFs hit over $200 million in net inflows as they exceeded the highest recorded inflows for July.
- ETH ETFs also recorded net profits. However, relative to Bitcoin, Ethereum ETFs saw minimal activity.
- Bitcoin and Ethereum prices are gradually ascending, with potential imminent breakouts if both sustain their current momentum.
In the most recent Exchange Traded Funds (ETFs) statistics, Bitcoin (BTC) and Ethereum (ETH) ETFs recorded net inflows, concluding the week on positive notes. While Bitcoin ETFs witnessed $263.2 million in profits, its Ethereum counterpart registered a meager $1.5 million in net inflows.
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Interestingly, Bitcoin ETFs’ latest positive flow surge saw the commodities surpass a July 23 net inflow peak. Additionally, it brought the total flow for the week to about $401 million in gains. Bitcoin ETFs welcomed gains in four days out of a possible five trading days, underscoring a significantly profitable week.
🚨 US #ETF 13 SEP: 🟢$263M to $BTC and 🟢$1.5M to $ETH
🌟 BTC ETF UPDATE (final): +$263M
• The net flow rebounded strongly to a new high since July 23.
• 7 out of 11 US Bitcoin ETFs saw inflows yesterday, led by #Fidelity.
• The total flow for the week is +$401M with… pic.twitter.com/OBgv3s2ZNj
— Spot On Chain (@spotonchain) September 14, 2024
FBTC Records Over $100M in Net Inflows as BTC ETFs Rebound Strongly
According to Spotonchain flow data, none of the ETFs witnessed outflows. Instead, seven welcomed gains, while four had zero activities. The four ETFs with zero flows include Grayscale Mini Bitcoin ETF (BTC), Invesco Bitcoin ETF (BTCO), Grayscale Bitcoin ETF (GBTC), WisdomTree Bitcoin ETF (BTCW), and BlackRock Bitcoin ETF (IBIT).
In profits, Fidelity Bitcoin ETF (FBTC) topped the chart with about $102.1 million in net inflows. ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) followed closely behind as they occupied the second and third spots, respectively. They welcomed profits of about $99.3 million and $43.1 million.
The remaining four Bitcoin ETFs with values less than $10 million are Grayscale Bitcoin ETF (GBTC), Franklin Bitcoin ETF (EZBC), VanEck Bitcoin ETF (HODL), and Valkyrie Bitcoin ETF (BRRR). They witnessed inflows of approximately $6.7 million, $5.2 million, $5.1 million, and $1.7 million, respectively.
Following their remarkable market actions in the just concluded week, Bitcoin ETF cumulative flow surged to about $17.3 billion in net profits. IBIT remains a leading contributor to Bitcoin ETFs’ positive netflows with $20.908 billion. On the other hand, GBTC has recorded the highest losses, with approximately $20.040 billion in net outflows.
Ethereum ETFs Record Second Net Inflows for the Week
Unlike Bitcoin, Ethereum ETFs recorded minimal activities. Only three commodities registered flows. Two ETFs witnessed net inflows, while one continued shedding losses. Bitwise Ethereum ETF (ETHW) and BlackRock Ethereum ETF (ETHA) registered the only profits at approximately $5.2 million and $3.7 million, respectively. Meanwhile, Grayscale Ethereum ETF witnessed the only net outflows at roughly $7.4 million.
Throughout this week, Ethereum ETFs welcomed net inflows on only two occasions out of five. Consequently, the commodities ended the week with about $12.9 million in losses. Meanwhile, the cumulative net inflow was negative at about $581.22 million. The total value traded was approximately $147.64 million, while total net assets reflected $6.62 billion.
Bitcoin and Ethereum Price Actions Amid ETFs Net Inflows
At the time of press, Bitcoin and Ethereum were recording subtle price spikes, with Bitcoin trading at around $60,000. On the other hand, Ethereum is changing hands at about $2,400. In 24-hour trading volume, BTC witnessed a 9.54% surge, bringing its valuation to about $32.5 billion. On its part, Ethereum’s 24-hour trading volume is up by roughly 26.09% and worth about $13.5 billion.
Bitcoin and Ethereum’s path to attaining remarkable price levels might have just begun. If the present ETF trend persists, chances abound that it could be a positive catalyst to catapult the tokens’ price ascent.
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