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On the 20th of September, the US spot ETF market has remained green with both Bitcoin and Ethereum exchange-traded funds seeing inflows. As per Spot On Chain, a famous on-chain analytics firm, Bitcoin ETFs recorded $92 million in net inflows while Ethereum ETFs saw just $2.9 million, although without witnessing any outflows. The analytics provider discussed the current outlook of the crypto ETF sector on social media.
🇺🇸 Spot ETF: 🟢$92M to $BTC and 🟢$2.9M to $ETH
— Spot On Chain (@spotonchain) September 21, 2024
🗓️ Sep 20, 2024
👉 The total flow for BTC ETFs this week is +$397M, with inflows on 4 out of 5 trading days.
👉 The total flow for ETH ETFs this week is -$26.2M, with inflows on 2 out of 5 trading days.
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Bitcoin ETFs Record Enormous $99 Million in Inflows on September 20
In its recent X posts, Spot On Chain mentioned that the inclusion of $99M in Bitcoin ETFs shows a significant inflow. In this respect, seven out of 11 Bitcoin ETFs added inflows. However, the rest of the four ETFs beheld no flows at all. In terms of individual inflows, Fidelity ($FBTC) led with the inclusion of $26.1 million.
Along with that, ARK 21Shares ($ARKB) added up to $22M. Additionally, the inflows of Bitwise ($BITB) reached $15.1M. Grayscale Mini ($BTC) included $13.4M in inflows. Moreover, VanEck ($HODL) recorded $7.1M worth of inflows. Valkyrie ($BRRR) touched $5.2M in net inflows. Invesco ($BTCO) saw the least inflows by adding just $3.1M. With this $92M, the total weekly inflows of the Bitcoin ETFs have elevated to a staggering $397M. This denotes four out of five trading days throughout the week.
Ethereum ETFs See $2.9M in Inflows with Weekly Outflows Reaching $26.2M
On the other hand, Ethereum ETFs stood at a relatively lower position when it comes to inflows. The cumulative inflows of the Ethereum ETFs were just $2.9M on September 21. In this respect, just one out of 9 Ethereum ETFs recorded inflows. Grayscale Mini ($ETH) added $2.9M however none of the other ETFs saw any flows at all.
In a slightly broader span, Ethereum ETFs experienced a tight week. Cumulatively, $26.2M left the Ethereum ETFs in weekly outflows. Throughout the seven days, just two out of the five trading days witnessed inflows, indicating cautious investor behavior.
Overall, the massive inflows of Bitcoin ETFs signify a resilient investor interest in the chief crypto asset. Nevertheless, despite the resilient presence of Ethereum in the DeFi sector and its increasing adoption, the recent outflows could be a result of market competition and heightened regulatory scrutiny.