bitcoin and ethereum exchange-traded funds in the United States saw net inflows together to close out the trading week, with both seeing even larger inflows earlier in the week. However, eth ETFs continue to see net outflows since their launch this summer.
According to data from btc-spot” target=”_blank”>SoSoValueThe 12 bitcoin spot ETFs saw net inflows of $92 million on Friday, September 20, down 42% from the $158 million inflows recorded on September 19. Fidelity’s FBTC led the pack with $26.1 million in inflows, down from the previous day’s inflow of $49.9 million.
ARK 21Shares’ ARKB and Bitwise’s BITB followed with inflows of $22 million and $15.1 million, respectively. Additionally, Grayscale bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR attracted $13.4 million, $7.1 million, and $5.2 million, respectively.
Invesco’s BTCO also saw modest inflows of $3.1 million after two days of no trading activity, while the remaining five btc ETFs saw no trading activity.
Since launching in January, btc spot ETFs have seen total net inflows of $17.7 billion.
At the time of writing, the spot price of bitcoin (btc) is trading at approximately $63,600, according to data from crypto.news.
eth ETFs also ended the week with inflows
Similarly, the nine US-based spot ethereum ETFs also saw net inflows on Friday, totaling $2.87 million. This also eth/” target=”_blank”>represented Momentum slowed from Thursday’s net inflows of $5.2 million. All of Friday’s inflows came into Grayscale’s ethereum Mini Trust (eth) after two days of no trading activity for that fund. Meanwhile, the remaining eight eth ETFs saw no trading activity on Sept. 20, as well as for most of last week.
<img loading="lazy" decoding="async" width="2708" height="1148" src="https://crypto.news/app/uploads/2024/09/Screenshot-2024-09-23-at-11.13.09 AM.png” alt=”bitcoin Spot ETFs Ended the Week with $92 Million in Inflows, eth ETFs Continue to Struggle – 1″/>
Earlier in the week, Grayscale’s other ETP, ethereum Trust (ETHE), continued to see significant outflows as investors evidently moved a portion of funds into Grayscale’s lower-fee product, the Mini Trust.
Spot Ether ETFs have seen a cumulative net outflow of $607.47 million year-to-date since their launch in July. At press time, spot ethereum (eth) is up nearly 15% on the week and is trading around $2,646.
Also on Friday, September 20, the U.S. Securities and Exchange Commission granted approval for Nasdaq to list and trade options with BlackRock’s bitcoin ETF, IBIT, as the underlying.
According to the SEC filing, IBIT options will be physically settled in bitcoin. Nasdaq noted that the ETF options will be subject to the exchange's listing standards.
As crypto.news previously reported, although the product still needs approval from the OCC and CFTC before being marketed, ETF analysts saw it as a “big win” because they believe it will attract more liquidity and institutional investment to cryptocurrencies.
