Recent reports indicate a notable surge in Bitcoin ETFs, with ten leading funds collectively recording a net inflow of 1,017 BTC, valued at around $64.31 million. Among these, the Fidelity Wise Origin Bitcoin Fund is particularly noteworthy, contributing 415 BTC, which translates to $26.26 million. Fidelity’s holdings now total 177,067 BTC, amounting to $11.2 billion, underscoring its robust presence in the market.
**Sept 23 Update:**
– **Bitcoin ETFs**
– **Net Flow:** +1,017 BTC (+$64.31M)
– **Fidelity:** Inflows 415 BTC ($26.26M); currently holds 177,067 BTC ($11.2B).
– **Ethereum ETFs**
– **Net Flow:** -146 ETH (-$385K)
– **Grayscale (ETHE):** Outflows 117 ETH ($310.5K); currently holds 1,717,725 ETH ($4.55B).
— Lookonchain (@lookonchain), September 23, 2024
According to Lookonchain, the iShares (Blackrock) Bitcoin Trust remains the dominant holder with 357,550 BTC, but it reported no changes in inflows or outflows over the past day. Conversely, the ARK 21Shares Bitcoin ETF recorded an inflow of 350 BTC, bringing its weekly total to 1,598 BTC, indicative of persistent investor interest. Other significant funds, such as Bitwise and Vaneck Bitcoin Trust, also experienced positive inflows, reinforcing the increasing confidence in Bitcoin ETFs.
**Ethereum ETFs Experience Mixed Outcomes**
In contrast, Ethereum-focused ETFs faced a slight downturn, showing a net outflow of 146 ETH, valued at approximately $385,000. The Grayscale Ethereum Trust, the largest holder with 1,717,725 ETH worth $4.55 billion, recorded an outflow of 117 ETH, equating to $310,500. This outflow reflects ongoing adjustments in the market amid shifting investor sentiment.
However, the iShares (Blackrock) Ethereum Trust reported significant inflows, adding 6,060 ETH over the past week, signaling renewed interest in Ethereum investments. Additionally, the Grayscale Ethereum Mini Trust exhibited positive activity with an inflow of 2,186 ETH, indicating pockets of resilience amidst broader market trends.
The overall net inflows in Bitcoin ETFs point to a strong demand, with many major funds seeing inflows surpass their outflows. While Ethereum ETFs have encountered some outflows, there are still sectors showing strength, especially among newer and smaller funds. The differing trends between Bitcoin and Ethereum ETFs highlight the complex dynamics in the digital asset investment landscape, influenced by investor sentiment and prevailing market conditions.
