Key Points:
Read more: Spot Bitcoin ETFs Inflows Rebound With $158 Million Net Gain
The biggest Bitcoin ETF inflows of the week came from the Ark 21Shares Bitcoin ETF, which attracted $22 million, and Fidelity Wise Origin Bitcoin Fund, at $26.1 million. Other notable Bitcoin ETF inflows were Bitwise’s BITB ETF at $15.1 million, while Grayscale’s BTC Mini-Trust and VanEck’s HODL saw inflows of $13.4 million and $7.1 million, respectively.
All of the 11 Bitcoin ETFs, on the other hand, saw inflows or stood still this week, whereas, on the contrary, Grayscale’s GBTC, which has seen outflows slow down a bit of late, saw some more. The competitive fee structure for the BTC Mini-Trust does appear to be helping retain investor interest.
That compares with BlackRock’s IBIT ETF, which has seen significantly diminished trading activity, with just $15.8 million flowing into it on September 16, after a week of no action. Since late August, minimal trading has gone into IBIT with only a few scattered inflows and outflows.
All in all, Bitcoin ETFs wrapped the week at net inflows of $397.2 million, relatively well aligned with the $403.9 million a week earlier. The leading cryptocurrency was trading at $62,800 at the time of writing, having gained from a recent low of well under $53,000. It’s up 7.5% on the week and 3.21% on the month.
In contrast, Ethereum ETFs saw the week close with outflows totalling $26.2 million. Though still in the red, the downtrend and partial recoveries of prices mean Ethereum ETFs may be in a bottoming phase, thus perhaps stabilizing and recovering soon.
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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