Bitcoin and Ethereum ETFs Close Trading Week with Inflows

The latest update about the US crypto ETFs for the 13^th of September highlighted positive market trends for Bitcoin and Ethereum exchange-traded funds. As per Spot On Chain, a popular on-chain analytics provider, both Bitcoin and Ethereum experienced inflows on the day after witnessing a rough week with huge outflows earlier. The analytics firm took to its official social media account to provide the details of the ETF market.

🚨 US #ETF 13 SEP: 🟢$263M to $BTC and 🟢$1.5M to $ETH
🌟 BTC ETF UPDATE (final): +$263M
• The net flow rebounded strongly to a new high since July 23.
• 7 out of 11 US Bitcoin ETFs saw inflows yesterday, led by #Fidelity.
• The total flow for the week is +$401M with… pic.twitter.com/OBgv3s2ZNj
— Spot On Chain (@spotonchain) September 14, 2024

Bitcoin ETFs Record a Massive $263M in Inflows on September 13

The Bitcoin ETFs market witnessed a huge spike in inflows. In this respect, they cumulatively added $263M on the day, signifying a resilient rebound in terms of net inflow. In this respect, the $BTC ETF market has achieved its top level since the 23^rd of July. Out of eleven Bitcoin ETFs, 7 recorded positive inflows with the other 4 seeing no flows at all. This indicates a substantial elevation in investor interest in the $BTC ETFs.

Fidelity (FBTC) led the Bitcoin ETFs in terms of inflows. The exchange-traded fund reportedly received a huge amount of nearly $102.1M in net inflows. Additionally, ARK 21Shares (ARKB) added $99.3M. Apart from that, Bitwise (BITB) and Grayscale (GBTC) recorded $43.1M and $6.7M in inflows. Moreover, Franklin (EZBC) and VanEck (HODL) included $5.2M and $5.1M. Valkyrie (BRRR) emerged as the Bitcoin ETF with the lowest inflows of approximately $1.7M.

However, Ethereum lagged in terms of inflows with the inclusion of just $1.5M. Even then, this points toward a reversal from the non-positive-flow trend of the previous day. Though this highlighted a slight positive shift, it could not sufficiently counterbalance the overall outflows during the week. The $ETH ETF market went through an outflow of $12.9M in total for 4 out of 5 trading days.

Ethereum’s Slight Inflows of $1.5M Still Denote a Renewed Interest among Investors

Irrespective of the overall negative flow during the week, the inflows emerging on the 13^th of September ignite hope for the Ethereum investors. The relatively minor shift concerning the $ETH ETFs, in comparison with Bitcoin ETFs, may mirror lingering uncertainty. It also may reflect a cautious approach of the $ETH investors regarding the long-term prospects. According to Spot On Chain, the positive flows could mean renewed interest, especially as Ethereum keeps evolving with a transition to PoS and an expansion in its use in smart contract and DeFi applications.

Source: https://blockchainreporter.net/bitcoin-and-ethereum-etfs-close-trading-week-with-inflows/