Spot Bitcoin and Ethereum ETFs in the United States concluded the trading week with net inflows of funds. While the overall trend for Ethereum ETFs remains negative, both cryptocurrencies are showing significant market changes.
Bitcoin ETF Fund Inflows
According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net inflows of $92 million on Friday, Sept. 20, which is 42% lower than the $158 million inflows recorded on the previous day. Fidelity’s FBTC led with $26.1 million in inflows, down from the prior day’s $49.9 million. ARK 21Shares’s ARKB and Bitwise’s BITB followed with $22 million and $15.1 million inflows, respectively. Additionally, Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR attracted $13.4 million, $7.1 million, and $5.2 million, respectively.
Current State of Ethereum ETFs
Similarly, the nine U.S.-based spot Ethereum ETFs also saw net inflows on Friday, totaling $2.87 million, which represented a slowdown from Thursday’s net inflows of $5.2 million. All of the Friday inflows went into Grayscale’s Ethereum Mini Trust after two days of no trading activity for that fund. The remaining eight ETH ETFs saw no trading activity on Sept. 20, nor for most of last week. Since their launch in July, spot Ethereum ETFs have experienced a cumulative net outflow of $607.47 million.
Regulatory Changes and Impact on ETFs
On Friday, Sept. 20, the U.S. Securities and Exchange Commission (SEC) granted approval for Nasdaq to list and trade options with BlackRock’s Bitcoin ETF, IBIT, as the underlying asset. According to the SEC filing, the IBIT options will be physically settled in Bitcoin. Nasdaq highlighted that these ETF options will be subject to the exchange’s listing standards. Although the product still needs approval from the OCC and CFTC before trading, analysts consider it a 'huge win' as it is expected to attract more liquidity and institutional investment into cryptocurrencies.
Despite the variability in inflows and outflows for Bitcoin and Ethereum ETFs, the market is experiencing significant influence from both institutional investors and regulatory authorities. The situation with these instruments continues to evolve, presenting new opportunities and challenges for market participants.
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