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CDS Crypto News Spot Bitcoin ETFs See $39M Inflows as Ether ETFs Continue Outflows

Crypto News

Spot Bitcoin ETFs See $39M Inflows as Ether ETFs Continue Outflows

Spot Bitcoin ETFs in the U.S. saw inflows of $39.02 million on Sept. 12, while Ether ETFs experienced outflows for a second consecutive day. ARK 21Shares led Bitcoin inflows, while Grayscale’s ETHE was responsible for all Ether outflows.

Zeynep Öztürk13/09/20241 Mins read67

Spot Bitcoin ETFs See $39M Inflows as Ether ETFs Continue Outflows

On September 12, US-based spot Bitcoin exchange-traded funds (ETFs) saw a reversal of fortunes, recording inflows after experiencing outflows the previous day. Data from SoSoValue indicates that the 12 spot Bitcoin ETFs attracted a net inflow of $39.02 million, compared to the $43.97 million in outflows reported the day before. Leading the inflows was ARK 21Shares’ ARKB, which drew in $18.3 million following a significant $54 million outflow just a day earlier.

Fidelity’s FBTC came in second with $11.5 million in inflows, marking its fourth consecutive day of positive net flows, accumulating a total of $115.9 million over that period. Grayscale’s Bitcoin Mini Trust also saw $5.18 million in inflows. Other funds seeing positive movement included VanEck’s HODL with $4.9 million, Franklin Templeton’s EZBC with $3.4 million, and Bitwise’s BITB with $2.2 million.

However, Grayscale’s GBTC fund reported outflows of $6.5 million, contributing to its total outflows of $20.04 billion since its launch. Meanwhile, seven other BTC ETFs, including BlackRock’s IBIT—the largest by net assets—saw no trading activity, with IBIT not experiencing inflows since August 27. Total trading volume across the 12 Bitcoin ETFs dropped to $896 million, down from $1.27 billion the previous day, though cumulative net inflows since inception stand at $17.03 billion. At the time of writing, Bitcoin was trading at $57,874, according to data from crypto.news.

In contrast, U.S.-based spot Ethereum ETFs continued their streak of outflows, with $20.14 million in net outflows reported on September 12, marking their second consecutive day of losses. Grayscale’s ETHE was solely responsible for the day’s Ether outflows, while the other eight Ethereum funds recorded no activity. Trading volumes for Ether ETFs also saw a decline, falling to $106.14 million from $126.22 million the day before. To date, the spot Ether ETFs have experienced cumulative net outflows of $582.74 million. As of publication, Ethereum was trading at $2,346.