Bitcoin ETFs Surge With $300M Inflows While Ethereum ETFs Struggle

U.S. exchange-traded funds (ETFs) for Bitcoin are witnessing a remarkable surge, with inflows reaching $300 million, while Ethereum ETFs are experiencing significant outflows, undoing their previous gains. This divergence highlights the contrasting investor sentiment towards these two leading cryptocurrencies.

Key Takeaways

• Bitcoin ETFs command $65.34 billion in BTC, representing 4.88% of its market cap.

• Ethereum ETFs hold $7.39 billion in ETH, or 2.29% of its market cap.

• Last week, Bitcoin ETF inflows totaled over $2.1 billion.

Bitcoin ETFs: A Strong Performance

According to data from SoSoValue, Bitcoin ETFs have started the week on a high note, recording $294.29 million in total net inflows on October 21. This marks the seventh consecutive day of significant inflows.

• BlackRock’s iShares Bitcoin Trust (IBIT): $329.03 million in inflows, bringing cumulative net inflows to $23.17 billion.

• Fidelity’s Wise Origin Bitcoin Trust (FBTC): $5.9 million in inflows, with cumulative net inflows of $10.31 billion.

However, not all Bitcoin funds are maintaining this bullish momentum:

• Grayscale Bitcoin Trust (GBTC): $4.85 million in exits, totaling $20.1 billion in cumulative net outflows.

• ARK 21Shares Bitcoin ETF (ARKB): Ended its six-day inflow streak with $6.07 million in net outflows.

• VanEck Bitcoin ETF (HODL): $7.64 million in net outflows.

• Bitwise Bitcoin ETF (BITB): The day’s loss leader, recording $22.08 million in outflows.

Ethereum ETFs: A Different Story

In contrast, Ethereum ETFs are beginning to reverse their modest gains, with $20.8 million in net outflows reported on October 21.

• BlackRock’s iShares Ethereum Trust (ETHA): $4.86 million in net inflows, raising cumulative net inflows to $1.26 billion.

• VanEck Ethereum Trust (ETHV): $3.92 million in net inflows.

However, the Grayscale Ethereum Trust (ETHE) continues to struggle:

• ETHE: No inflows, shedding $29.58 million in exits, leading to cumulative net outflows of $3.04 billion.

Conclusion

The contrasting trends in Bitcoin and Ethereum ETFs reflect the current market dynamics and investor sentiment. While Bitcoin continues to attract significant inflows, Ethereum funds are facing challenges, indicating a potential shift in focus among cryptocurrency investors. As the market evolves, it will be interesting to see how these trends develop in the coming weeks.

Sources

• Bitcoin ETFs See $300M Inflows While Ethereum ETFs Undo Their Gains | CCN.com, CCN.com.

• Bitcoin ETFs See $300M Inflows While Ethereum ETFs Undo Their Gains | CCN.com, CCN.com.