Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds in the U.S. experienced a significant drop in net inflows on Sept. 23, while spot Ether ETFs ended their two-day inflow streak.
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the 12 spot Bitcoin ETFs logged net inflows of $4.56 million, 95% lower than the <a href="https://crypto.news/spot-bitcoin-etfs-ended-the-week-with-92m-in-inflows-eth-etfs-continue-to-struggle/" target="_blank" rel="noopener noreferrer nofollow">$92 million</a> inflows recorded the previous trading day. Fidelity’s FBTC led the lot again with $24.9 million in inflows following nine days of positive flows and one day of neutral flows seen by the fund.
<a href="https://crypto.news/tag/Blackrock/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>’s IBIT, the largest BTC ETF, followed with $11.5 million flowing into its fund, ending its no-flow streak of 4 days. Grayscale Bitcoin Mini Trust drew in $8.4 million.
<a href="https://crypto.news/tag/grayscale/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>’s GBTC was the sole spot Bitcoin ETF to report outflows, with $40.3 million leaving the fund, culminating in total outflows of $20.1 billion since its launch. The remaining eight BTC ETFs witnessed no trading activity on the day.
Total trading volume for the 12 BTC ETFs dropped to $949.7 million on Sept. 23, lower than the $980.5 million seen the previous day. Since launch, these funds have recorded a cumulative total net inflow of $17.7 billion.&nbsp;
Over the past seven days, Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) price surged by 8.3%, reaching a peak of $64,501. Currently, it is priced at $63,293, down 0.6% over the last day, with a trading volume of $25.9 billion and a market capitalization of $1.25 trillion.
Meanwhile, growing investor demand is expected to push Bitcoin prices higher. Bloomberg analyst Eric Balchunas <a href="https://x.com/EricBalchunas/status/1823080660765900805" target="_blank" rel="noopener noreferrer nofollow">speculated </a>that leading issuers like BlackRock could potentially triple their Bitcoin holdings by the end of next year.&nbsp;
As investors buy shares in these ETFs, issuers are required to purchase an equivalent amount of Bitcoin, driving up demand and further impacting the already limited supply.
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<h2 class="wp-block-heading" id="spot-ether-etfs-break-inflow-streak">Spot Ether ETFs break inflow streak</h2>
The nine U.S.-based Spot Ethereum ETFs recorded net outflows totaling $79.3 million, a flip from the net positive flows seen the previous day. The entire net outflows originated from Grayscale’s ETHE, with $80.6 million flowing out of its fund.
These outflows were partially offset by Bitwise’s ETHW, which logged inflows of $1.3 million on the day.
The trading volume for these investment vehicles had seen a rise, jumping to $167.3 million on Sept. 23 from $139.4 million seen the previous day. The spot Ether ETFs have experienced a cumulative total net outflow of $686.68 million. At the time of publication, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) was exchanging hands at $2,639.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/sec-options-trading-blackrock-ishares-bitcoin-trust/"> SEC greenlights options trading for BlackRock’s iShares Bitcoin trust </a>

Spot Bitcoin ETF inflows tumble, Ether ETFs shed $79.3m

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