On Thursday, September 12, Bitcoin spot exchange-traded funds (ETFs) saw a significant surge in institutional investments, drawing in a hefty $39 million. This influx signals a strong interest from investors keen on gaining exposure to Bitcoin (BTC) without directly holding the asset.
ARKB Takes The Lead With $18.34 Million In Daily Inflows
Among the Bitcoin ETFs, ARKB, managed by Ark Invest and 21Shares, led the charge with substantial inflows. Data from SoSoValue highlights that ARKB attracted $18.34 million in just one day. This surge comes as the ETF recovers from an eight-day streak of outflows, with a total inflow of $117 million earlier this week. Notably, ARKB alone garnered $12.68 million of that total.
The fund’s impressive performance is reflected in its total historical net inflow, which has now reached $2.25 billion. Following ARKB, Fidelity’s FBTC recorded $11.47 million in inflows, pushing its historical net inflow to a remarkable $9.54 billion. Other notable contributors included Grayscale’s Bitcoin Mini Trust and VanEck’s HODL, which added $5.18 million and $4.95 million, respectively.
Grayscale’s GBTC Sees Outflows Amid Market Shifts
Despite the positive trend for most Bitcoin ETFs, Grayscale’s GBTC experienced a setback. The fund saw outflows totaling $6.51 million on Thursday, bringing its total net outflow to $20.05 billion. This decline contrasts sharply with the general trend of increasing inflows for Bitcoin ETFs.
The remaining Bitcoin ETFs, including BlackRock’s IBIT, Valkyrie Bitcoin Fund (BRRR), Invesco Galaxy Bitcoin ETF (BTCO), Hashdex Bitcoin ETF (DEFI), and WisdomTree Bitcoin Trust (BTCW), showed a mixed performance with varying inflows and outflows. Notably, BlackRock’s IBIT, the largest Bitcoin ETF by net asset value, has not recorded any inflows since August 27.
Trading Volume and Market Trends
Thursday’s capital influx into Bitcoin ETFs highlights a shift in investor sentiment, driven by Bitcoin’s stability around the $58,000 mark. Total trading volume for all 12 Bitcoin ETFs in the U.S. reached $896.92 million, although this is a decrease from the $1.27 billion traded the previous day. The total net inflows for all U.S. Bitcoin ETFs now stand at $17.03 billion, indicating a growing belief in Bitcoin as a robust asset class amidst global economic uncertainties.
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In contrast to Bitcoin ETFs, Ethereum ETFs are facing challenges. On the same day, spot Ethereum ETFs saw net outflows of $20.14 million, primarily driven by Grayscale’s ETHE fund. This marks the second consecutive day of outflows for Ethereum-focused funds this week, bringing the total net outflows to $582.74 million. Despite this, Ethereum (ETH) remains a key player in the crypto market, though recent volatility has shaken investor confidence.
As institutional investors flock to Bitcoin ETFs, the market dynamics reflect a nuanced landscape where Bitcoin continues to attract significant capital, while Ethereum funds grapple with ongoing outflows. This divergence underscores the evolving nature of investor sentiment and highlights the growing importance of Bitcoin as a cornerstone in the cryptocurrency investment landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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