Bitcoin and Ethereum ETFs Achieve Highest Gains in Weeks: Over $100 Million Raised

Bitcoin and Ethereum spot Exchange-Traded Funds (ETFs) in the United States experienced their best day in weeks yesterday. Bitcoin funds raised over $100 million for the first time in weeks, while Ethereum funds saw their best result in nearly a month.

Key Takeaways

• Bitcoin ETFs raised $117 million in new capital.

• Fidelity's FBTC fund led with an inflow of $63.2 million.

• Ethereum ETFs saw a net inflow of $11.4 million.

• BlackRock's ETHA fund and Fidelity's FETH fund were top performers.

Bitcoin ETFs See Record Inflows

The eleven Bitcoin funds launched in January collectively secured $117 million in new capital, according to data from Farside Investors. This comes after a record streak of losses, with eight consecutive days of outflows ending on Monday with a net inflow of $28.6 million.

Fidelity's FBTC fund was the best performer, attracting $63.2 million. This is notable as Fidelity rarely leads in capital inflows, usually trailing behind BlackRock's IBIT fund, the world's largest Bitcoin ETF.

Grayscale's 'mini' ETF, a cheaper alternative to its GBTC fund, had one of its best days since its launch on July 31, with an inflow of $41.1 million. The ARKB fund, a joint venture between ARK Invest and 21Shares, also raised new capital, amounting to $12.7 million.

Remarkably, there were no outflows yesterday, not even from Grayscale's GBTC fund. The last time no Bitcoin ETF saw outflows was nearly two months ago, on July 19.

Ethereum ETFs Experience Best Day in Weeks

Ethereum spot ETFs, launched at the end of July, also saw higher inflows than outflows yesterday. Data from Farside Investors shows that the nine funds recorded a net inflow of $11.4 million.

For weeks, these funds have ended almost every trading day in the red. The recent inflow marks the best result since August 13.

This is only the tenth time Ethereum ETFs have attracted new capital, despite being traded on exchanges for 35 days.

Both BlackRock's ETHA fund and Fidelity's FETH fund saw inflows of $4.3 million and $7.1 million, respectively. Another positive note is that Grayscale's ETHE fund did not experience any outflows, a rare occurrence that has only happened twice since the fund was converted to a spot ETF.

Conclusion

The recent performance of Bitcoin and Ethereum ETFs indicates a renewed interest and confidence in these digital assets. With significant inflows and no outflows, the market sentiment appears to be shifting positively, potentially signaling a bullish trend for the near future.

Sources

• Bitcoin en Ethereum ETF's boeken hoogste winst in weken: meer dan $100 miljoen opgehaald - Newsbit, Newsbit.