Bitcoin, Ethereum ETFs Back in Green After Brief Hiccup

Key Takeaways

• Bitcoin ETFs command $66.09 billion in BTC or 4.9% of its market cap.
• BlackRock’s Bitcoin fund has seen $1.99 billion in net inflows since Oct. 14.
• Ethereum ETFs hold $7.01 billion in total net assets or 2.3% of its market cap.

U.S. spot Bitcoin ( BTC ) and Ethereum (ETH) exchange-traded funds (ETFs) have maintained a sturdy inflow streak following momentary outflows.

Bitcoin ETFs

As per SoSoValue data, Bitcoin ETFs are picking up where they left off with day two of a renewed inflow streak, posting total net inflows of $188.11 million on Oct. 24.

Bitcoin ETF flows. Source: SoSoValue

Reaching day nine of its inflow streak, BlackRock’s iShares Bitcoin Trust (IBIT) secured $165.54 million. Since Oct. 14, IBIT has seen an absurd $1.99 billion in net inflows, raising its cumulative net inflow to $23.69 billion.

The only other gainer for the day is the Bitwise Bitcoin ETF (BITB), which netted a cool $29.63 million, raising its cumulative net inflow to $2.28 billion, ranking it fourth amongst competitors.

The Grayscale Bitcoin Trust (GBTC) was the only fund in the red, shedding a small $7.05 million in net inflows. GBTC’s cumulative net outflows now stand at $20.11 billion.

The days-long inflow streak was briefly disrupted on Oct. 22 when the ARK 21Shares Bitcoin ETF ( ARKB ) suffered its largest outflows yet. Shedding $134 million, it was the largest loss for the day by a wide margin.

In fact, ARKB has seen three consecutive days of outflows totaling over $150 million and has found respite today with neutral flows. Regardless, Bitcoin ETF flows have been, for a majority, exceptionally bullish throughout October.

Ethereum ETFs

According to SoSoValue, Ethereum ETFs have maintained their inflow streak, reaching day three with a total net inflow of $2.3 million on Oct. 24.

Ethereum ETF flows. Source: SoSoValue

However, just one fund was in the green, with BlackRock’s iShares Ethereum Trust (ETHA) inflows of $2.3 million. Having not seen a single day of outflows, ETHA has seen cumulative net inflows of $1.28 billion.

The second half of October began a consistent inflow era for Ethereum ETFs.

Since launching on July 23, ETH ETFs have seen 38 days of total net outflows compared to 26 days of total net inflows. From mid-August to mid-September, ETH ETFs saw their most consistent period of outflows.

This daily trend has seemingly reversed for now. However, it remains yet to be seen if ETH ETFs can achieve a weekly inflow streak. So far, ETH ETFs have seen just three weeks of net inflows against 11 weeks of net outflows.