Bitcoin ETFs Score $250M Inflows, Ethereum ETFs Lag Behind

Key Takeaways

• Bitcoin ETFs command $58.66 billion in BTC or 4.71% of its market cap.
• Grayscale’s primary BTC and ETH funds have combined net outflows of $23.17 billion
• Ethereum ETFs hold $6.74 billion in ETH, or 2.28% of its market cap.

U.S. spot Bitcoin ( BTC ) and Ethereum ( ETH ) exchange-traded funds (ETFs) ended last week on a modest high, with BTC inflows returning to form and ETH outflows remaining muted.

Bitcoin ETFs

As per data from SoSoValue, Bitcoin ETFs pulled in combined net inflows of $253.54 million on Oct. 11, ending a three-day outflow streak.

Bitcoin ETF flows. Source: SoSoValue

Leading the charge, Fidelity’s Wise Origin Bitcoin Fund (FBTC) bagged a solid $117.1 million, bringing its cumulative net inflows to $9.99 billion.

Not far behind, ARK 21Shares (ARKB) Bitcoin ETF netted $97.58 million, raising its cumulative net inflow to $2.55 billion.

The Bitwise Bitcoin ETF (BITB) captured $38.81 million in net inflows, bringing cumulative net inflows up to $2.15 billion.

As for smaller gainers, the VanEck Bitcoin ETF (HODL) secured $14.26 million, and the Invesco Galaxy Bitcoin ETF (BTCO) saw $7.88 million in net inflows.

Finally, the Grayscale Bitcoin Trust (GBTC) recorded $22.09 million in exits, sinking its cumulative net outflows to $20.19 billion.

Ethereum ETFs

According to SoSoValue, Ethereum ETFs were mostly neutral on Oct. 11, shedding just $97,110 in net outflows.

Ethereum ETF flows. Source: SoSoValue

Fidelity’s Ethereum Fund (FETH) was the sole gainer for the day, securing $8.61 million in net inflows after 9-days of neutrality and outflows. FETH has seen a cumulative net inflow of $454.5 million, ranking it second among competitors.

Essentially undoing these gains, the Grayscale Ethereum Trust (ETHE) counters FETH with $8.71 million in net outflows. Having not seen a single day of inflows since launching, ETHE has a cumulative net outflow of $2.98 billion.

Though it’s not exactly a win, it’s not a major loss either. Ethereum ETFs have struggled immensely to gain traction with investors, and for one reason or another, trading volumes are consistently low.

Since mid-August, the daily total value traded on ETH funds has floated around $100 million to just over $200 million. For comparison, this figure is frequently above $1 billion for BTC ETFs.

Again, that’s not to say things aren’t going well for ETH ETFs. Though it may seem unfair to place all the blame on Grayscale’s persistent outflows, it is the only fund dragging the ETH ETF market down.