Bitcoin and Ethereum ETFs Inflows Mixed After a Bullish End to Redtember

Key Takeaways

• Bitcoin ETFs now command $59.08 billion, or 4.69% of BTC’s market cap.
• BlackRock’s BTC and ETH ETFs have combined cumulative inflows of $22.65 billion.
• Ethereum ETFs hold $7.14 billion in net assets or 2.27% of ETH’s market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have begun the week with modest results after drawing over $1 billion in combined inflows last week.

Bitcoin ETFs

As per the latest market data from SoSoValue, Bitcoin ETFs have had a positive start to the week, posting a modest $61.3 million in net inflows on Sept. 30.

Bitcoin ETF flows. Source: SoSoValue

Although a majority of funds posted neutral flows, there were still some winners and losers. To begin with, BlackRock’s iShares Bitcoin Trust (IBIT) took home the lion’s share, posting $72.15 million in net inflows. IBIT’s cumulative net inflows now stand at a lofty $21.5 billion.

Trailing behind is Fidelity’s Wise Origin Bitcoin Fund (FBTC), which gained $8.32 million in net inflows. FBTC’s cumulative net inflows are hovering at the $9.99 billion mark, and could soon capture a position above $10 billion.

As for outflows, Grayscale’s GBTC is nowhere to be seen. Instead, the Bitwise Bitcoin ETF (BITB) posted $9.67 million in net outflows. Followed by the ARK 21Shares Bitcoin ETF (ARKB), which saw $9.5 million in outflows. This barely dents its roughly $250 million in cumulative net inflows from last week.

Ethereum ETFs

Ethereum ETFs have struggled to maintain inflow momentum this week as data from SoSovalue reveals meager net outflows of $822,290 on Sept. 30.

Ethereum ETF flows. Source: SoSoValue

As is typical of the Ethereum ETF market , it’s not all doom and gloom, as a majority of funds posted neutral flows. Instead, it was a tale as old as time, an arm wrestle between BlackRock’s inflows and Grayscale’s outflows.

BlackRock’s iShares Ethereum Trust (ETHA) is the only fund in the green, posting a cool $10.99 million in net inflows. As it stands, ETHA is the leading ETH ETF by quite a wide margin, with $1.15 billion in cumulative net inflows. ETHA has not seen a single day of outflows.

Conversely, the Grayscale Ethereum Trust (ETHE) has posted net outflows of $11.81 million. Having not seen a single day of inflows, and just eight days of neutrality, ETHE’s cumulative net outflows now stand at $2.91 billion.

Bullish Momentum

Overall, it’s a solid start to the week. If you ignore Grayscale’s outflows, both BTC and ETH ETF markets have been a resounding success. After pulling in over $1 billion in net inflows last week, it’s safe to say that there is still plenty of appetite for crypto ETFs.

Following BTC’s price rally to $65,000, renewed optimism struck the market as word of a “Greentober” to counter the woes of “Redtember” was said to be on the cards.