1. Largest Inflows Led by Ark Invest and 21Shares
2. Positive Inflows for BlackRock and Grayscale
3. Total Asset Value of Bitcoin ETFs

On Friday, September 27, 2024, the crypto market witnessed a significant net inflow of $494.27 million into Bitcoin ETFs in the US.

Largest Inflows Led by Ark Invest and 21Shares

According to Sosovalue data, the ARKB ETF managed by Ark Invest and 21Shares saw the largest inflow, reaching $203 million in a single day. This brings the cumulative net inflow of ARKB to $2.723 billion, indicating growing confidence from institutional and retail investors. The amount surged from the $113.8 million inflow recorded a day earlier, on September 26, 2024. The Fidelity ETF FBTC also showed impressive performance with a net inflow of $124 million on the same day. This inflow saw a significant jump from the $74 million recorded on September 26, signaling increased investor interest in Fidelity products.

Positive Inflows for BlackRock and Grayscale

BlackRock's iShares Bitcoin Trust (IBIT) ETF recorded an inflow of $110.82 million, continuing a positive trend for five consecutive days. This increased the total cumulative inflow of IBIT to $21.42 billion, reinforcing its position as the largest spot Bitcoin ETF in terms of net assets. The Grayscale ETF (GBTC) also experienced a net inflow of $26.15 million after recording an outflow of $7.7 million on September 26.

Total Asset Value of Bitcoin ETFs

The total net asset value of all spot Bitcoin ETFs now stands at $61.21 billion, representing approximately 4.71% of Bitcoin's market capitalization. This achievement indicates that spot Bitcoin ETFs are becoming increasingly popular investment instruments for those looking to gain exposure to the leading crypto asset without buying Bitcoin directly. In addition to Bitcoin, Ethereum ETFs also showed positive performance with a total net inflow of $58.65 million on the same day. Fidelity's FETH led with an inflow of $42.54 million, while BlackRock's ETHA and Bitwise’s ETHW saw inflows of $11.46 million and $5.43 million, respectively. This indicates that while the primary focus remains on Bitcoin, interest in Ethereum as the second leading crypto asset is also on the rise.

The impressive performance of Bitcoin ETFs coincides with a broader positive sentiment in the crypto market, where bullish trends continue to emerge. Bitcoin's price has risen by 3.99% over the last seven days, reaching the level of $65,784. Ether has also risen by 2.16% in the same period, reaching a price of $2,670. Analysts believe that this rally is more sustainable than previous ones as investors appear to be adopting a 'buy the dip' approach.