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News

Spot Bitcoin ETF Inflows Reach $39M As BTC Nears $58,000

September 13, 2024 - Around 2 mins mins to read

Key points

  • Six-spot bitcoin ETFs, including ARKB, reported net inflows on Thursday.
  • Spot ether ETFs recorded daily net outflows of $20.14 million.
Spot bitcoin ETF inflows surged by $39.02 million on Thursday, led by Ark and 21Shares’ ARKB, while Grayscale’s GBTC was the only fund to see outflows.
Spot Bitcoin ETF Inflows Reach $39M As BTC Nears $58,000

Spot Bitcoin ETF Inflows Surge by $39.02 Million

According to SoSoValue data, on Thursday, U.S. spot bitcoin ETFs saw a significant net inflow of $39.02 million, led by 21Shares’ Ark and ARKB, which brought in $18.34 million. Fidelity’s FBTC saw $11.47 million in inflows, while Grayscale’s Bitcoin Mini Trust and other funds like VanEck’s HODL and Franklin Templeton’s Bitcoin fund also saw positive inflows.

Despite the surge, Grayscale’s GBTC was the only ETF to see outflows, with $6.51 million flowing out of the fund. Overall, bitcoin ETFs have seen a cumulative net inflow of $17.03 billion since their launch in January. However, daily trading volume has dropped to $896.92 million, down from $1.27 billion the day before.

Read more: Spot Bitcoin ETFs See $211 Million Outflows, Extending Losing Streak

Grayscale’s Ether ETF Leads Outflows Amid Bitcoin Recovery

While inflows into bitcoin spot ETFs surged, spot Ethereum ETFs saw net outflows of $20.14 million, marking a second consecutive day of declines. Grayscale’s ETHE was responsible for all the outflows, while other Ethereum ETFs reported no change.

Total trading volume for the Ethereum ETF fell to $106.14 million, reflecting lower activity. Meanwhile, bitcoin prices remained around $58,000, with investors awaiting the Federal Open Market Committee meeting for a possible rate cut. As market conditions changed, investors remained focused on the performance of both bitcoin and Ethereum ETFs.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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