Bitcoin and Ethereum ETFs Pull $150M Amid Crypto Market Winning Streak

Key Takeaways

• Bitcoin ETFs command $58.04 billion in BTC, or 4.63% of its market cap.
• The SEC has approved options trading on BlackRock’s Bitcoin ETF.
• Ethereum ETFs now have $7.03 billion in net assets.

U.S. spot Bitcoin (BTC) and Ethereum exchange-traded funds (ETFs) are on a roll as investors are pouring a collective $150 million into crypto funds amid renewed market confidence.

Bitcoin ETFs

As per SoSovalue, Bitcoin ETFs are on a 5-day winning streak after pulling $105.84 million in total net inflows on Sept. 25.

Bitcoin ETF flows. Source: SoSoValue

Making up the vast majority of today’s inflows, BlackRock’s iShares Bitcoin Trust (IBIT) netted $184.38 million. The U.S. Securities and Exchange Commission’s (SEC’s) decision to approve options trading on IBIT appears to have given the fund a considerable boost as its offerings diversify. IBIT is leading BTC ETF with $21.22 billion in net inflows.

The Bitwise Bitcoin ETF (BITB) was the only other fund in the green, bagging a humble $2.07 million in net inflows. Just two funds saw outflows, namely the ARK 21Shares Bitcoin ETF (ARKB) with $47.41 million in net outflows, and Fidelity’s Wise Origin Bitcoin Fund (FBTC) which saw $33.19 million in exits.

Meanwhile, all other funds remain neutral. Despite IBIT’s considerable gains, just $795.88 million was traded on Sept. 25, making it the third-slowest trading day since launching on January 2024.

Ethereum ETFs

According to SoSoValue, Ethereum ETFs may be headed toward a 3-day inflow streak after pulling $43.23 million on their second day of net inflows , Sept. 25.

Ethereum ETF flows. Source: SoSoValue

The Grayscale Ethereum Mini Trust is leading today’s inflows. It posted its largest inflows since July 27, bagging $26.63 million. This brings the fund’s cumulative net inflows to $292.23 million.

Just behind, BlackRock’s iShares Ethereum Trust (ETHA) posted $9.38 million in net inflows. ETHA currently leads the ETH ETF competition with $1.11 billion in net inflows. Fidelity’s Ethereum Fund (FETH) captured $6.45 million of today’s inflow shares.

In an extremely rare appearance, the 21Shares Core Ethereum ETF saw its third-ever day of net inflows, bagging a modest $774,100. The fund has run neutral since July 31, with a cumulative net inflow of $11.53 million.

Overall, it’s a solid performance as crypto markets gain upward momentum. There is also anticipation that the SEC’s decision will approve or deny options trading on ETH ETFs by mid-November, which investors may be wagering on.

ETH ETF Performance

Though it may seem insignificant, a second day of solid inflows for Ethereum ETFs has been a rare occasion so far. Some have questioned whether their tepid performance reflects institutional weariness for ETH, but it’s not quite as simple as that.

Following the ETH Dencun upgrade and buzz surrounding spot ETH ETF approvals, the stars seemed aligned for a solid market pump. But it never quite manifested.

Macroeconomic woes from around the world, in traditional stock markets, and other non-crypto-related factors further compounded economic uncertainty. With the bearish “Redtember” among us, it appeared that ETH and crypto overall were in for a turbulent period.

No one had quite anticipated that BTC, or ETH, for that matter, would  begin to ascend before Oct. 2024. At the time of writing, BTC is trading up at $64,400, and ETH is trading up at $2,629.

Now, with two relatively large green candles marked after days and weeks of meager outflows, ETH ETFs may have finally found their moment.