The 12 U.S. spot bitcoin exchange-traded funds (ETFs) enjoyed a $192.31 million boost on Wednesday, bouncing back from a rough Tuesday. Even the nine ether funds joined in the fun, seeing some modest gains during the day’s trading.
Bitcoin ETFs See Huge Turnaround—Find Out Which Fund Led the Charge
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
U.S. Crypto ETFs Bounce Back
On Oct. 23, 2024, U.S. spot bitcoin ETFs saw inflows of $192.31 million, a sharp contrast to the $79.09 million they lost the day before. Blackrock‘s IBIT took the spotlight, raking in a whopping $317.47 million, while Grayscale’s Bitcoin Mini Trust was the only other winner, adding $4.71 million. Meanwhile, funds from Ark Invest, Bitwise, and Vaneck—ARKB, BITB, and HODL, respectively—couldn’t keep up and ended up with losses.
Leading the pack in losses was Ark Invest’s and 21shares’ ARKB, dropping a hefty $99.04 million. Bitwise’s BITB followed with a $25.21 million decline, and Vaneck’s HODL lost $5.61 million. The remaining ETFs ended the day without any significant changes. Wednesday’s gains pushed the total net inflows since Jan. 11 to $21.34 billion.
Today, the 12 ETFs hold $64.09 billion in bitcoin reserves, which represents 4.86% of bitcoin’s market value as of Thursday. Ether ETFs also had a good day, pulling in $1.27 million. Fidelity’s FETH was the top performer, attracting $6.25 million, followed by 21shares’ CETH, which saw $1.62 million in inflows. Invesco’s QETH also snagged $1 million in positive flows.
The $1.27 million in ether inflows helped reduce cumulative net outflows since July 23 to $487.58 million. As of Thursday, the nine ethereum ETFs collectively hold $6.93 billion in ether, which accounts for 2.29% of the total ether in circulation. With bitcoin and ether ETFs continuing to attract attention, their combined holdings now make up a notable slice of the overall market, highlighting the growing role ETFs play in the cryptocurrency market.
