Bitcoin ETFs See Inflows Amid Price Rise, Ethereum Lags with Negative Flows

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2 hours ago

Last week, Bitcoin Spot ETFs reported positive inflows in line with an increase in Bitcoin's price. In contrast, Ethereum registered consistently negative results.

Growth of Bitcoin ETFs

Data from SosoValue reveals that Bitcoin ETFs recorded inflows of $253.54 million on 11 October. This marked the second instance of inflow for Bitcoin ETFs during the week, after three consecutive days of outflows. Fidelity, Ark 21 Shares, Bitwise, InvescoGalaxy, and VanEck were responsible for the inflows, while other ETFs, including BlackRock, recorded zero flows. Fidelity saw the most significant inflows with $117 million, followed by Ark 21 Shares with $97.6 million and Bitwise with $38.8 million. The cumulative total netflows for Bitcoin spot ETFs were at $18.81 billion, with a total net asset value of $58.66 billion.

Bitcoin Price Impact on ETFs

The inflow to Bitcoin spot ETFs coincided with positive price movement for BTC. After several days of negative flows and price declines, Bitcoin increased by over 3% on 11 October, moving from $60,279 to $62,518. This upward trend continued on 12 October, with Bitcoin trading at around $63,000. If Bitcoin maintains its positive momentum through the weekend, additional ETF inflows could follow in the coming week, indicating growing investor interest.

Negative Ethereum ETF Results

In contrast, Ethereum spot ETFs have struggled to see the same level of positive inflows as Bitcoin ETFs. While Ethereum saw a minor inflow of $3.06 million on 11 October, seven out of the nine Ethereum ETFs reported zero inflows, and the previous day saw no inflows at all. The cumulative total netflows for Ethereum Spot ETFs remain negative at -$558.88 million, with a total net asset value of $6.74 billion. Despite occasional inflows, Ethereum’s Spot ETF performance has lagged behind Bitcoin’s, highlighting a more challenging market environment for ETH investors.

While Bitcoin ETFs show a steady positive trend, Ethereum Spot ETFs continue to face challenges, underscoring differences in market conditions for the two largest cryptocurrencies.

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