Bitcoin ETFs Boosted by Inflows, Ether ETFs Hit by $79.21M Outflow

Mixed Day for Crypto ETFs

Spot bitcoin ETFs had a positive day on Monday as three funds attracted inflows during the session. Fidelity’s FBTC took the lead, amassing $24.93 million, followed by Blackrock’s IBIT, which gained $11.54 million. The third in line was Grayscale’s Mini Bitcoin Trust, soaking up $8.42 million. However, Grayscale’s larger ETF, GBTC, wiped out some of those gains with a loss of $40.33 million on the same day.

The $4.56 million in inflows has pushed the total net inflows across all 12 ETFs since Jan. 11, 2024, to an impressive $17.7 billion. Monday’s trading volume hit about $949.73 million, and these 12 funds now hold a combined $57.91 billion in bitcoin reserves—equal to 4.63% of bitcoin’s market cap as of Sept. 24. While BTC ETFs made gains, their ether counterparts didn’t share the same fortune.

Nine ethereum exchange-traded funds witnessed $79.21 million in outflows on Monday. The only bright spot was Bitwise’s ETHW, which brought in $1.34 million. Grayscale’s ETHE, however, was the biggest drag, shedding $80.55 million. The remaining seven ether ETFs saw a neutral day with no gains or losses to report.

The outflows on Monday pushed the total net outflows since July 23 to $686.68 million. Currently, the group holds $7.2 billion in ETH reserves, accounting for 2.25% of ETH’s market cap. Just 62 days ago, after the first day of ETH-based ETF trading, the funds held $10.24 billion in reserves, representing 2.45% of ETH’s market value.

What do you think about Monday’s crypto ETF action? Share your thoughts and opinions about this subject in the comments section below.