Wall Street’s appetite for crypto is getting back in full swing as Bitcoin spot ETFs hauled in $757 million on September 10. This turned out to be their strongest daily inflow since July. However, it was the third straight day of fresh inflow after some back-to-back mixed sessions. BTC price reclaimed the $114K mark backed by bulls.
Ethereum ETFs also turned positive after a week of redemptions. They pulled in $172 million on September 10, while it recorded an inflow of $44.16 million on September 9. ETH price surged by more than 2% in the last 24 hours to regain the $4,400 mark.
Bitcoin ETFs wipe out $751M outflows
Data shows that Fidelity’s FBTC topped the leaderboard with $299 million in new money. BlackRock’s IBIT followed it with $211 million of inflow while Ark Invest’s ARKB bagged $145 million. The running week has seen $1.15 billion of inflows in BTC ETFs, till now. This might grow as the bullish momentum builds.
Bitcoin ETFs have now erased last month’s $751 million in redemptions with $1.39 billion in net inflows so far in September. BTC price saw an uptick of around 3% over the last 7 days while still trailing by 4% in the past 30 days.
Ethereum ETFs saw BlackRock’s ETHA pull $74.5 million, while Fidelity’s FETH added $49.5 million. They were followed by VanEck’s ETHV $11.07 million inflow. ETH’s picture looks a bit more complicated. The linked funds notched a $446 million outflow earlier this month. It has contributed to a net $669 million loss in September.
Are Ethereum funds cooling down?
ETH ETFs had reported three blockbuster months that brought in over $10 billion combined. That inflow helped the biggest altcoin to outperform Bitcoin lately. Still, the latest daily numbers suggest investors are stepping back in.
Ethereum price surged marginally over the last 7 days. In fact, it printed red indexes until the fresh surge came in. Ether is trading at an average price of $4,423 at press time.
The timing is no accident as the Federal Reserve meeting is just days away. Traders are repositioning across risk assets while prediction platform Polymarket now prices in an 82% chance of a quarter-point rate cut. This keeps funds flowing into Bitcoin ETFs even as Ethereum futures activity explodes.
Coinanalyze data shows Ethereum futures volumes hit $49.4 billion in the past 24 hours. It surpassed Bitcoin’s $42.9 billion. That divergence underscores a split that speculative traders are leaning into ETH, while institutional ETF money is rotating into BTC.
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Source: https://www.cryptopolitan.com/wall-street-pours-into-bitcoin-etfs-eth/