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The exchange-traded funds (ETFs) landscape over the past week, from 20 April to 24 April, was mostly in inflows.
Starting with the Spot Bitcoin [$BTC] ETF, which started the week strong, recording $238.4 million in inflows on 20 April. On this day, BlackRock’s IBIT recorded maximum inflows worth $256 million, whereas Grayscale’s GBTC recorded outflows worth $24.9 million.
Bitcoin ETFs performance analysis
Moving ahead on 21 April, Spot $BTC ETFs recorded minimal inflows worth $11.8 million. Though IBIT recorded inflows worth $39.3 million, the outflows seen by Fidelity’s FBTC, Bitwise’s BITB, Ark Invest’s ARKB, VanEck’s HODL, and Grayscale’s GBTC were enough to dismiss IBIT’s inflows.
However, on 22 April, cumulative $BTC ETFs saw inflows worth $335.8 million, in which, as expected, IBIT recorded maximum inflows worth $246.9 million.
On 23 April, the $BTC ETF saw inflows worth $223.3 million. And yet, GBTC saw zero flows on that day.
By the end of the week, however, inflow strength had weakened as the $BTC ETF recorded inflows worth $14.4 million. On this day, most asset managers had seen zero flows.
Did the Spot Ethereum ETF mirror the same pattern?
Spot Ethereum [$ETH] ETFs almost followed a similar trend to that of the $BTC ETFs. On 20 April, $ETH ETFs saw inflows worth $67.8 million, in which BlackRock’s ETHA recorded $76.1 million. On the contrary, Grayscale’s ETHE saw outflows worth $17.1 million.
Then, on 21 April, it saw fewer inflows in comparison to the previous day, as it recorded inflows worth $43.3 million. Once again, ETHA recorded the highest inflows, followed by Fidelity’s FETH.
Moving ahead, on 22 April, the $ETH ETF saw the highest inflows of the week, worth $96.4 million, wherein ETHA and FETH were the maximum gainers.
However, the momentum shifted on 23 April as the $ETH ETF recorded outflows worth $75.9 million, in which FETH saw the maximum outflows worth $51.3 million. By the end of the week, the inflows had returned, with the $ETH ETF seeing inflows worth $23.4 million.
What about other altcoin ETFs?
Solana [$SOL] ETF, for its part, saw very minimal inflows on all days of the week.
On 20 April, the $SOL ETF saw inflows worth $3.1 million. However, on 21 and 22 April, the $SOL ETF saw zero flows. Interestingly, on 23 April, inflows recorded were worth $7.3 million, but this momentum was short-lived.
As of 24 April, the $SOL ETF saw outflows worth $1.1 million. $XRP ETFs, on the other hand, were mostly in inflows, with just 21 April recording zero flows.
All this happened in the same week when GSR, the cryptocurrency capital market, introduced its first ETF. The GSR Crypto Core3 ETF, under the ticker BESO, recorded nearly $5 million in trading volume on day one.
Final Summary
- All ETFs from Bitcoin, Ethereum, Solana, and $XRP mostly recorded inflows over the past week.
- Bitcoin ETFs, however, saw maximum inflows over the past week, when compared to $XRP ETFs and Solana ETFs.