Bitcoin Spot ETFs Raise $390.7 Million in Four Days, Ethereum ETFs See Recovery
Date: 2024-09-25 Author: Henry Casey Categories: CRYPTO PAYMENTS
According to SoSoValue, 12 Bitcoin spot ETFs raised $135.95 million in a day, marking the fourth straight day of positive flows. The funds have collectively raised more than $390.7 million in the period. BlackRock's IBIT fund led the inflows, raising $98.9 million in a day, making it the second straight day of positive flows. Total inflows into the fund reached $21.03 billion.
Other funds, including Bitwise's BITB and Fidelity's FBTC, also performed well, raising $17.4 million and $16.8 million, respectively. The Grayscale Bitcoin Trust mini fund received $2.9 million. The remaining eight Bitcoin ETFs, including Grayscale's better-known GBTC fund, remained neutral on the day.
The total trading volume of the 12 Bitcoin ETFs reached $1.11 billion on September 24, up from $949.72 million the day before. Since their launch, these funds have seen a combined net inflow of $17.83 billion. At press time, Bitcoin was up 1.6% to $64,196.
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Meanwhile, U.S. spot Ethereum ETFs saw net inflows of $62.5 million on September 24, a reversal from the negative flows seen the day before. The bulk of these funds went to BlackRock’s ETHA, which saw $59.3 million.
VanEck’s ETHV and Invesco’s QETH ETFs also saw small inflows of $1.9 million and $1.3 million, respectively. The rest of the Ethereum ETFs saw no trading activity on the day.
Trading volume for these funds also increased, reaching $180.42 million, up from $167.35 million the previous day. Total net outflows from spot Ether ETFs amounted to $624.17 million. By press time, Ether was down 0.65% at $2,623.
