Spot Bitcoin and Ethereum exchange-traded funds in the United States recorded combined net inflows as the trading week came to a close, with both asset classes seeing even greater inflows earlier in the week. Nonetheless, ETH ETFs continue to face net outflows since their launch this summer.
Data from SoSoValue indicates that the 12 spot Bitcoin ETFs experienced net inflows amounting to $92 million on Friday, Sept. 20, which is a 42% decline from the $158 million inflows noted on Sept. 19. Fidelity’s FBTC led the group with inflows of $26.1 million, down from $49.9 million the day before.
Following closely behind, ARK 21Shares’s ARKB attracted $22 million, while Bitwise’s BITB garnered $15.1 million in inflows. Additionally, the Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR saw inflows of $13.4 million, $7.1 million, and $5.2 million, respectively.
Invesco’s BTCO also received a modest influx of $3.1 million after a two-day trading hiatus. The other five BTC ETFs saw no trading activity.
Since their inception in January, spot BTC ETFs have accumulated a total of $17.7 billion in net inflows.
As of this writing, spot Bitcoin (BTC) is trading at approximately $63,600, according to data from crypto.news.
ETH ETFs also concluded the week with inflows
In a similar manner, the nine U.S.-based spot Ethereum ETFs reported net inflows of $2.87 million on Friday, albeit a decrease from Thursday’s net inflows of $5.2 million. All of Friday’s inflows were directed to Grayscale’s Ethereum Mini Trust (ETH) after two days of no trading for that particular fund. Conversely, the remaining eight ETH ETFs witnessed no trading activity on Sept. 20, consistent with much of the previous week.
Earlier in the week, Grayscale’s other exchange-traded product, the Ethereum Trust (ETHE), faced significant outflows, with investors seemingly reallocating some of their funds into Grayscale’s lower-fee product, the Mini Trust.
The spot Ether ETFs have recorded a total net outflow of $607.47 million since their launch in July. At the time of this publication, spot Ethereum (ETH) has risen nearly 15% for the week, trading around $2,646.
On Friday, Sept. 20, the U.S. Securities and Exchange Commission approved Nasdaq to list and trade options utilizing BlackRock’s Bitcoin ETF, IBIT, as the underlying asset.
According to the SEC filing, the IBIT options will be settled in Bitcoin. Nasdaq emphasized that the ETF options will adhere to the exchange’s listing standards.
As previously reported by crypto.news, although the product is still pending approval from the OCC and CFTC prior to trading, ETF analysts consider it a “huge win” due to its potential to draw more liquidity and institutional investment into the crypto market.
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