U.S. Spot Bitcoin ETFs Experience Historic Inflows of $365 Million, Achieving Six Consecutive Days of Gains

Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a notable daily net inflow of $365.57 million on Thursday, representing the largest influx since late July.

This recent increase extends the positive trend to six consecutive days, as reported by Sosolvalue.

Leading the inflows on Thursday was the ARKB ETF, managed by Ark Invest and 21Shares, which saw a significant addition of $113.82 million.

BlackRock’s IBIT Also Experiences Inflows

BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, followed closely with net inflows of $93.38 million.

Fidelity’s FBTC also showed strong performance, drawing in $74 million.

Bitwise’s BITB reported a net inflow of $50.38 million, while VanEck’s HODL added $22.10 million.

Smaller net inflows were noted across other funds from Valkyrie, Invesco, Franklin Templeton, and Grayscale’s Bitcoin Mini Trust.

However, not all participants had a favorable day. Grayscale’s GBTC was the sole ETF to report a net outflow, losing $7.73 million in assets.

Despite this decline, the overall performance of spot Bitcoin ETFs remained strong, with total trade volume among the 12 funds reaching $2.43 billion—the highest since August 23.

With Thursday’s inflows, the total cumulative net inflows into spot Bitcoin ETFs since their inception have now increased to $18.31 billion.

The substantial inflows occur amid a broader bullish sentiment in global risk markets.

“It’s all green lights for global risk markets as U.S. equities hit new all-time highs for the third time this week,” stated Augustine Fan, Head of Insights at SOFA.org.

“The rally has been driven by swift stimulus measures aimed at revitalizing the struggling Chinese economy, prompting notable macro observers to adopt a bullish stance on all risk assets in the interim. The coordinated global easing approach is reminiscent of the easy-money days of the QE era.”

Chinese markets up another 3-5%.
That’s ~30% higher, in short order (days).
Their stimulus programs aren’t being talked about enough.
It’s already larger than anything since the plandemic and global liquidity is being turbo charged.

— Kip Herriage (@KHerriage) September 27, 2024

Ethereum ETFs Experience Outflows

While Bitcoin ETFs thrived, the performance of spot Ethereum ETFs presented a contrasting scenario.

The sector recorded a net outflow of approximately $675,450 on Thursday, despite net inflows across six funds.

Grayscale’s ETHE experienced the largest outflow, losing $36 million, according to Sosolvalue data.

On a positive note, Fidelity’s FETH saw net inflows of $15.92 million, and BlackRock’s ETHA added $14.85 million.

Invesco’s QETH noted a modest net inflow of $2 million, while funds from Bitwise, VanEck, and 21Shares reported inflows of less than $1 million each.

The nine Ether ETFs recorded a total trade volume of $257.40 million on Thursday, more than doubling Wednesday’s $124.18 million.

However, since their launch in July, they have collectively experienced net outflows of $581.61 million.

In the wider cryptocurrency market, Bitcoin’s price rose 2.9% over the past 24 hours to $65,330.96, its highest point since late July.

Ether also gained, increasing 1.8% to $2,648.

Fan believes this crypto rally possesses more “staying power” than previous ones.

“Investor sentiment has shifted to a ‘buy the dip’ mentality, and with no significant downside catalysts in sight, the risk-reward balance appears to favor a continued rally,” he stated.

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