Bitcoin and Ethereum spot ETFs recorded a combined $1.06 billion in net inflows on Sep. 29, as institutional demand returned ahead of what has historically been one of the most bullish months for Bitcoin and other major crypto assets.
Summary
- Bitcoin and Ether ETFs have collectively drawn over $1 billion in net inflows on Monday.
- Spot Ethereum ETFs outpaced Bitcoin with inflows of $546.96 million.
According to data from SoSoValue, the 12 spot Bitcoin exchange-traded funds in the U.S. drew in $521.95 million in net inflows on Monday following two days of consecutive outflows that saw a total of $676.7 million exit the funds.
Fidelity’s FBTC attracted the lion’s share on the day, recording net inflows of $298.7 million. ARK 21Shares’ ARKB, Bitwise’s BITB, VanEck’s HODL, and Invesco’s BTCO saw inflows of $62.1 million, $47.1 million, $35.3 million, and $30.6 million, respectively.
Grayscale’s legacy GBTC fund and Bitcoin Mini Trust also contributed with inflows of $26.9 million and $47 million. Franklin Templeton’s EZBC and Valkyrie’s BRRR drew in more modest inflows of $16.5 million and $4.03 million on the day.
However, BlackRock’s IBIT, the largest BTC ETF by net assets, bucked the trend, posting net outflows of $46.6 million on the day.
As seen on multiple occasions over the past months, spot Ethereum ETFs once again eclipsed their Bitcoin counterparts. The nine ETH spot ETFs recorded $546.96 million in net inflows on Monday, snapping a five-day outflow streak that had seen over $795 million in total withdrawals.
Fidelity’s FETH and BlackRock’s ETHA attracted the majority of inflows, as they saw $202.1 million and $154.2 million, respectively. All of the remaining ETH ETFs also contributed positively as they drew in a combined inflow of $190.5 million.
With institutional demand slowly returning, these investment vehicles look likely to close the month with net inflows, which would mark the sixth consecutive month of positive flows.
Crypto markets look forward to a bullish October
The inflows into the crypto ETFs came as market sentiment improved ahead of October, which has historically brought double-digit gains for Bitcoin and other major crypto assets.
Bitcoin managed to reclaim the $112,000 support, a level which multiple analysts saw as necessary to maintain a bullish trajectory. At the same time, Ethereum bulls managed to push its price back above $4,200, a level where it had been trading before the downturn last week.
However, starting today, a number of key economic reports, such as Tuesday’s JOLTS job openings data, Wednesday’s ISM Manufacturing PMI, Thursday’s weekly jobless claims, and Friday’s unemployment rate, which could all weigh on market sentiment, especially as these data might shape the Federal Reserve’s next policy moves.
A stronger labor market or hotter‑than‑expected activity could cool risk appetite by pushing back expectations for rate cuts, while softer numbers might give traders more confidence that monetary policy will loosen sooner rather than later.
At press time, Bitcoin (BTC) was trading at $113,923, up 2.3% while Ethereum (ETH) also held similar gains, perched at $4,190.
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