US Crypto ETFs See Significant Slowdown in Inflows
Crypto exchange-traded funds (ETFs) in the US attracted $55.8 million in combined net inflows on September 28, a significant slowdown from the previous session.
The majority of this inflow came from Bitcoin ETFs, which added $31 million. This was largely driven by BlackRock's iShares Bitcoin Trust, IBIT, attracting $54.8 million. However, this inflow was partly offset by redemptions from Grayscale's GBTC and Fidelity's FBTC.
Ethereum (Ether) funds also saw a slowdown in demand, with $17.1 million added on Monday, down approximately 80% from Friday's $87 million. Solana products recorded another $7.7 million in inflows, but this was a sharp reversal from the previous week's record session.
The broader signal remained positive, but substantially weaker than previous sessions. BlackRock's combined Bitcoin and Ether inflows of $70.2 million exceeded the entire market's net total of $55.8 million.