Ethereum

Bitcoin ETF

Bitcoin

BlackRock’s iShares Bitcoin Trust (IBIT), one of the top spot Bitcoin exchange-traded fund (ETFs), <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">recorded</a> its first daily net inflows since August 26. After enduring 11 consecutive trading days of stagnant flows and a few outflow days, the fund attracted $15.8 million in fresh inflows on Monday.
Before this, the IBIT ETF had experienced its longest stretch without <a href="https://thecoinrise.com/spot-bitcoin-etfs-break-another-major-outflow-streak-with-263m-inflow/" rel="noopener noreferrer nofollow">positive inflows since spot Bitcoin ETFs</a> began trading in January 2024. Net outflows were reported on August 29 and September 9, further adding to the market uncertainty.
<h2 id="span-style-font-weight-400-bitcoin-etfs-record-modest-inflow-span">Bitcoin ETFs Record Modest Inflow</h2>
Monday’s inflows, while a positive sign, were modest compared to the $263.2 million recorded just the previous Friday. Additionally, trading volumes for Bitcoin ETFs dipped, with activity falling to $1.1 billion from $1.8 billion.
The broader ETF market also saw some positive movement. Fidelity’s FBTC, Franklin Templeton’s EZBC, and VanEck’s HODL recorded net inflows of $5.1 million, $5 million, and $4.9 million, respectively.
This helped bolster optimism among investors, even as Grayscale’s spot Bitcoin ETF, GBTC, reverted to net outflows. GBTC saw $20.8 million leave the fund after a brief inflow of $6.7 million on Friday. However, Grayscale’s mini product BTC saw a $2.8 million uptick, partially offsetting the losses.
Despite these fluctuations, BlackRock’s IBIT ETF remains the dominant player in the spot Bitcoin ETF space, with total net inflows of $20.9 billion since its January debut. <a href="https://thecoinrise.com/bitcoin-etfs-see-39m-inflows-led-by-arkb-and-fbtc/" rel="noopener noreferrer nofollow">Fidelity’s FBTC is a distant second</a>, with $9.6 billion in net inflows, while Grayscale’s GBTC has been struggling with over $20 billion in outflows.
Across the board, spot Bitcoin ETFs have accumulated a combined net inflow of $17.3 billion in 2024.
<h2 id="span-style-font-weight-400-ethereum-etfs-face-persistent-outflows-span">Ethereum ETFs Face Persistent Outflows</h2>
In contrast to Bitcoin, spot Ethereum ETFs are <a href="https://sosovalue.xyz/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">facing</a> more challenging market conditions. On Monday, these funds saw a collective net outflow of $9.4 million, a stark reversal from the $1.5 million inflows observed just days earlier.
BlackRock’s Ethereum product, ETHA, did lead the charge with $4.2 million in new inflows, but this wasn’t enough to counteract the $13.8 million that left Grayscale’s converted ETHE fund.
Overall, spot Ethereum ETFs have struggled since their launch in July, accumulating $590.8 million in net outflows. The majority of these outflows, around $2.7 billion, have come from Grayscale’s ETHE product. Meanwhile, other Ethereum funds have managed to attract $2.1 billion in net inflows, but concerns remain about sustained investor interest in the space. 
The post <a href="https://thecoinrise.com/blackrocks-ibit-sees-first-net-inflows-in-weeks-ethereum-etfs-struggle/" rel="noopener noreferrer nofollow">BlackRock’s IBIT Sees First Net Inflows in Weeks, Ethereum ETFs Struggle</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

BlackRock’s IBIT Sees First Net Inflows in Weeks, Ethereum ETFs Struggle

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