Key Points
- Bitcoin Spot ETFs experienced inflows of $253.54 million on 11 October, aligning with a 3% price increase.
- Ethereum Spot ETFs continue to struggle with cumulative negative netflows of -$558.88 million.
Bitcoin Spot ETFs reported positive net inflows last week, marking the second time within the week it experienced an increase. Four major Bitcoin Spot ETFs contributed to these inflows, while others reported zero flows.
Conversely, Ethereum spot ETFs have been consistently registering negative netflows, falling behind Bitcoin in terms of positive movement.
Bitcoin ETFs and Positive Inflows
Data from SosoValue reveals that Bitcoin ETFs recorded inflows of $253.54 million on 11 October. This marked the second instance of inflow for Bitcoin ETFs during the week, after three consecutive days of outflows.
Fidelity, Ark 21 Shares, Bitwise, InvescoGalaxy, and VanEck were responsible for the inflows among the ETFs. On the other hand, BlackRock and several other ETFs reported no flows during this period.
Fidelity had the most significant inflows with $117 million, followed by Ark 21 Shares with $97.6 million. Bitwise contributed $38.8 million, with the remaining inflows distributed among the other ETFs.
The cumulative total netflows for Bitcoin spot ETFs stood at $18.81 billion, with a total net asset value of $58.66 billion at the time of writing.
Bitcoin’s Price Rally and ETF Inflows
The inflow to Bitcoin spot ETFs coincided with positive price movement for BTC. After several days of negative flows and price declines, Bitcoin increased by over 3% on 11 October, moving from $60,279 to $62,518. This upward trend continued on 12 October, with Bitcoin trading at around $63,000.
If Bitcoin maintains its positive momentum through the weekend, additional ETF inflows could follow in the coming week, indicating growing investor interest.
Ethereum Spot ETFs and Negative Netflows
In contrast, Ethereum spot ETFs have struggled to see the same level of positive inflows as Bitcoin ETFs. While Ethereum saw a minor inflow of $3.06 million on 11 October, seven out of the nine Ethereum ETFs reported zero inflows, and the previous day saw no inflows at all.
The cumulative total netflows for Ethereum Spot ETFs remain negative at -$558.88 million, with a total net asset value of $6.74 billion. Despite occasional inflows, Ethereum’s Spot ETF performance has lagged behind Bitcoin’s, highlighting a more challenging market environment for ETH investors.
