Bitcoin ETFs Gain Momentum Amid Strong Inflows, While Ether ETFs See Major Outflow

On Monday, spot Bitcoin exchange-traded funds (ETFs) recorded $4.56 million in inflows, driven primarily by Fidelity’s FBTC, which gained $24.93 million, Blackrock’s IBIT with $11.54 million, and Grayscale’s Mini Bitcoin Trust, adding $8.42 million.

Despite these gains, Grayscale’s larger GBTC experienced a $40.33 million outflow. Overall, the total net inflows for all Bitcoin ETFs since January 11, 2024, have reached $17.7 billion, with a combined reserve of $57.91 billion. In contrast, Ethereum ETFs faced a challenging day, with a total outflow of $79.21 million, largely due to Grayscale’s ETHE, which alone lost $80.55 million. This brought total outflows since July 23 to $686.68 million, leaving Ethereum ETFs with $7.2 billion in reserves.

Clever Robot News Desk 26^th September 2024