Spot Bitcoin ETFs Report $28.72M in Net Inflows, Fidelity’s FBTC Tops the List

Bitcoin ETFs Surge, Ether ETFs Continue Negative Trend with $5.20M in Outflows

Bitcoin ETFs Surge – Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced a notable shift on Monday, breaking their eight-day streak of negative flows with a significant inflow of $28.72 million. Meanwhile, spot Ether ETFs continued their downward trend, marking the fifth consecutive day of net outflows.

Fidelity’s FBTC Dominates Bitcoin ETF Inflows

Fidelity’s FBTC led the pack in spot Bitcoin ETF inflows, contributing a substantial $28.6 million, according to data from SoSoValue. Close behind, Bitwise’s BITB saw inflows of $21.99 million. Meanwhile, Ark Invest and 21Shares’ ARKB recorded smaller inflows of $6.81 million, and Invesco’s BTCO added $3.14 million to the fund.

Despite the positive momentum, Monday’s inflows were partially offset by significant outflows. Grayscale’s GBTC reported $22.76 million in net outflows, while BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, experienced $9.06 million in outflows. Since August 26, IBIT has either seen outflows or zero flows.

Daily Trading Volume for Bitcoin ETFs Declines

The 12 Bitcoin ETFs tracked on Monday reported a total daily trading volume of $1.61 billion, down from the $2.39 billion recorded last Friday. These ETFs have collectively accumulated $16.92 billion in net inflows since their launch in January, reflecting their growing popularity among institutional investors.

Bitwise CIO Matt Hougan commented on the rapid adoption of Bitcoin ETFs, stating that “investment advisors are adopting Bitcoin ETFs faster than any new ETF in history.” Hougan pointed to data showing BlackRock’s spot Bitcoin fund has attracted $1.5 billion from investment advisors since its launch, underscoring the growing institutional interest in the asset class.

Ether ETFs Struggle with Continued Outflows

While Bitcoin ETFs saw a reversal in negative flows, spot Ether ETFs continued to struggle. Monday marked the fifth consecutive day of net outflows for Ether ETFs in the U.S., with total outflows amounting to $5.20 million.

Grayscale’s ETHE led the decline, reporting $22.64 million in net outflows. However, not all Ether-related funds saw outflows. The Grayscale Ethereum Mini Trust (ETH) logged $7.97 million in inflows, while Fidelity’s FETH saw $7.62 million, and Bitwise’s ETHW recorded $1.85 million in net inflows.

Shrinking Daily Trading Volumes for Ether ETFs

Ether ETFs also saw a sharp decline in daily trading volumes. The nine ETFs monitored on Monday reported a total trading volume of $124.51 million, significantly lower than the $210.43 million recorded last Friday. Their cumulative net flows remain negative, with $573.49 million in outflows.

Market Outlook: Cryptocurrencies in the Election Spotlight

As the markets turn their attention to broader geopolitical events, investors are looking ahead to the first U.S. presidential election debate between Donald Trump and Kamala Harris, set to take place on Tuesday. Cryptocurrency regulation and policy have emerged as major topics of debate, reflecting the growing importance of digital assets in the political sphere.

With institutional investors increasingly adopting Bitcoin and Ether ETFs, and regulatory discussions heating up, the cryptocurrency market is likely to remain highly dynamic as these factors continue to unfold.

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