Bitcoin, Ethereum ETFs record $1B+ inflows in a single day
What's the story
In a major development, Bitcoin and Ethereum exchange-traded funds (ETFs) have witnessed massive inflows of over $1 billion on September 12. The surge comes after a phase of uncertainty in the cryptocurrency market, indicating that crypto bulls are back in action. According to Coinpedia, spot Bitcoin and Ethereum ETFs attracted almost $1.1 billion in net inflows on Friday.
Market leaders
Bitcoin ETFs witness 5th consecutive day of positive net flow
Bitcoin ETFs led the pack with $642 million in inflows on the fifth consecutive day of positive net flow. Fidelity's Bitcoin ETF (FBTC) contributed nearly half of that amount, attracting $315 million into the fund. BlackRock's IBIT closely followed, bringing in an additional $265 million. Other funds such as Bitwise's BITB and Ark & 21Shares also witnessed significant gains during this period.
Market performance
Total net assets surpass $150 billion
The trading volume of Bitcoin ETFs stood at nearly $3.89 billion, with total net assets exceeding $153 billion. This accounts for about 6.6% of the total market cap of Bitcoin, Coinpedia reported. These figures highlight a growing interest in Bitcoin through regulated investment vehicles among institutional investors and traders alike.
Institutional interest
Ethereum spot ETFs attract $406 million inflows
Ethereum spot ETFs aren't far behind in the race, garnering $406 million in inflows. This marks their fourth consecutive day of positive net flow. BlackRock's ETHA and Fidelity's FETH led the pack with $165 million and $163 million, respectively. Other Ethereum-focused ETFs like Grayscale ETHE ($23.84 million), Grayscale ETH ($17.57 million), Bitwise ETHW ($16.62 million) also witnessed gains during this period.
Market impact
Total net assets surpass $30 billion
The trading volume of Ethereum ETFs stood at $2.55 billion, with total net assets hitting $30 billion. This accounts for just over 5% of the total market cap of Ethereum, Coinpedia reported. These numbers indicate a growing institutional interest in Ethereum through regulated investment vehicles amid the recent developments in the global cryptocurrency framework.