Bitcoin ETFs Soar to New Inflows, Ethereum Demand Falters
The latest flows into US spot Bitcoin exchange-traded funds (ETFs) have shed some light on a growing split between institutional demand for Bitcoin and Ethereum. On September 29, these funds attracted another $66.2 million in net inflows, extending their recent positive run.
Bitcoin ETF inflows more than doubled from the $31 million recorded a day earlier, while Ethereum funds swung from a $17.1 million inflow on September 28 to a $2.8 million net outflow. The Bitcoin and Ethereum ETF markets still recorded approximately $63.4 million in net inflows for the session.
BlackRock's iShares Bitcoin Trust (IBIT) led the Bitcoin funds with $51.1 million in fresh capital, followed by ARK 21Shares' ARKB with $33.2 million. However, Bitwise's BITB reported an $18.1 million outflow, partly offsetting these gains.
Ethereum ETFs told a different story, recording a modest $2.8 million net outflow on September 29, ending a run of consecutive positive trading sessions. BlackRock's ETHA saw $8.9 million leave the fund, while Fidelity's FETH recorded $6.7 million in outflows. Grayscale's ETH product partially offset those withdrawals with $12.8 million in inflows.