US Spot Bitcoin ETFs Hit $365 Million On Sixth-Day Net Inflow Streak

The US spot Bitcoin ETF maintained positive flows within the past few days. On Thursday, the products hit net inflows of $365 million, marking their sixth consecutive day of positive flows.

Ark Invest and 21Shares’s ARKB surprisingly led the trend with over $113.8 million in net flows. The impressive pattern of the Bitcoin ETFs came as the broader crypto market recorded a gradual value increase, with Bitcoin crossing $65,000.

On the other hand, Ethereum-based ETFs posted net outflows, although six products saw net positive flows for the day.

Spot Bitcoin ETFs’ Net Inflows Hit A Two-Month High
Spot Bitcoin ETFs positive flows hit the sixth consecutive day of a positive streak. On Thursday, September 26, the ETFs recorded net inflows of $365.7 million, marking a two-month high, according to data from Farside Investors.

ARK Invest’s Bitcoin ETF, ARKB, notably pioneered positive flows, with $113.8 million in net inflows. Following the massive accumulation, ARKB’s record stood at $2.52 billion in net inflows as of September 26.

The next product is the most significant spot BTC ETF in total assets, BlackRock’s IBIT, with net inflows of $93.4 million. As of September 26, IBIT boasts net inflows amounting to $21.31 billion.

Fidelity’s FBTC and Bitwise’s BITB amassed $74.0 million and $50.4 million in net inflows, respectively. VanEck’s HODL recorded a $22.10 million increase in net inflows.

Other ETFs with positive daily flows include products from Invesco’s BTCO, Franklin Templeton’s EZBC, Valkyrie’s BRRR, and Grayscale’s Bitcoin Mini Trust’s BTC. 

These ETFs saw smaller net inflows of $6.5 million, $5.7 million, $4.6 million, and $2.9 million, respectively. On the other hand, Wisdom Tree’s BTCW posted a zero net flow for the day, while Grayscale’s GBTC recorded negative flows with an exit of $7.7 million.

Impressively, the daily trade volume of all the 12 ETFs amounted to $2.43 billion, their largest record since August 23. Following Thursday’s massive accumulation, the 12  Bitcoin ETFs’ net inflows have hit over $18.31 billion. 

The ETFs’ consistent inflows reflect increasing investors’ demand for the products as Bitcoin reclaimed its value amid the market’s bullish momentum.

Bitcoin’s trade volume rose by 45.44% to $38.47 billion, and its market cap is over $1.29 trillion.

Ethereum-Based ETFs Witness Cumulative Outflows
Although US Bitcoin ETFs are on a positive trend, the reverse is true for Ethereum-based ETFs. On Thursday, spot Ethereum-based ETFs returned to net negative flows after two days of net inflows. 

According to data from SoSoValue, the products recorded net outflows of $675,450, although six Ether ETFs saw net inflows for the day.

Fidelity’s FETH led the positive trend with net inflows of $15.92 million for the day. BlackRock’s ETHA followed closely with $14.85 million in net inflows.

Bitwise’s ETHW and VanEck’s EZET added $951,870 and $971,560 to their holdings. While Invesco’s QETH amassed over $1.99 million in net inflows, ARK Invest and 21Shares’ CETH increased by $663,390.

Grayscale’s ETHE accounted for the overall negative flows, with net outflows of over $36.5 million for the day. The nine Ether ETFs’ daily trade volume on Thursday increased to $257.40 million, up from $124.18 million the previous day.

Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.

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