US Bitcoin ETFs Rebound with $253.6M Inflows, Fidelity and ARK 21Shares Top the Charts
On October 11, US-based spot Bitcoin exchange-traded funds recorded net inflows of $253.6 million, snapping a three-day run of losses. According to data from Farside Investors, the ARK 21Shares Bitcoin ETF witnessed a net inflow of $97.6 million, while the Fidelity Wise Origin Bitcoin Fund led all with a positive inflow of $117.1 million. A total of $38.8 million was invested in the Bitwise Bitcoin ETF, the most in 11 trading days. Additionally, inflows were seen in the Invesco Galaxy and VanEck Bitcoin ETFs.
The day’s flow for BlackRock’s iShares Bitcoin Trust (IBIT) and the Bitcoin ETFs offered by Franklin Templeton, Valkyrie, and WisdomTree was “0.” Additionally, $22.1 million was lost by the Grayscale Bitcoin Trust.
Seven Ether ETFs Register No Flows Again Amid $8.7M Loss for Grayscale Ethereum Trust
For the third time in the previous five trading days, seven of the nine US-based spot Ether ETFs registered zero flows on October 11. According to Farside Investors statistics, on October 11, the spot Ether ETFs together experienced a $0.1 million net outflow, with all inflows originating from the Fidelity Ethereum Fund. An $8.7 million loss was suffered by the Grayscale Ethereum Trust.
There have been at least eight consecutive 0 flow days for the ETH ETFs produced by 21Shares, VanEck, and Invesco. According to Bobby Zagotta, CEO of Bitstamp for the Americas, the spot Ether ETFs may have launched at the incorrect time, which could explain the poor demand compared to spot Bitcoin ETFs.
In this moment, people are waiting. I think they’re in the wait-and-see mode because of the uncertainty in the election, the regulatory stuff in the US, some of the sociopolitical stuff — everything is a little bit flat right now, relatively speaking.
Zagotta
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