Key Points
- U.S. spot Bitcoin ETFs recorded $92 million in net inflows on Friday, contributing to nearly $400 million in inflows for the week.
- The SEC approved options trading for BlackRock’s IBIT ETF, signaling further expansion of Bitcoin-related financial products.
Bitcoin ETFs Continue to Attract Investors
U.S. spot Bitcoin exchange-traded funds (ETFs) demonstrated their ongoing appeal to investors, recording net inflows of $92 million on Friday, September 20, 2024. This influx of capital contributed to a weekly total of nearly $400 million in net inflows, underscoring the growing interest in Bitcoin-based investment products.
Per data from SoSoValue, the positive flows were distributed across seven different Bitcoin ETFs, with Fidelity’s FBTC leading the pack with $26.12 million in inflows. Close behind was the ARKB fund, jointly managed by Ark Invest and 21Shares, which saw $21.99 million in new investments. Other significant contributors included Bitwise’s BITB with $15.08 million and Grayscale’s Bitcoin Mini Trust, attracting $13.37 million.
Smaller inflows were also recorded for Bitcoin ETFs from VanEck, Valkyrie, and Invesco. Notably, there were no net outflows reported on Friday, while five funds, including BlackRock’s IBIT, maintained zero flows.
Market Activity and Cumulative Performance
The day’s trading activity for U.S. Bitcoin funds reached a substantial volume of $980.59 million. Since their launch in January 2024, these ETFs have accumulated a remarkable total net inflow of $17.69 billion, highlighting the strong demand for regulated Bitcoin investment vehicles.
Expansion of Bitcoin-Related Financial Products
In a significant development for the Bitcoin ETF ecosystem, the U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of options for BlackRock’s IBIT ETF. This move is expected to enhance the liquidity and flexibility of Bitcoin-related investments, with options slated to be listed and traded on the Nasdaq exchange.
Ethereum ETFs Show Mixed Results
While Bitcoin ETFs continue to see strong inflows, Ethereum-based ETFs are experiencing more varied results. Spot Ether ETFs reported their second consecutive day of positive flows, totaling $2.87 million on Friday. However, these inflows were entirely attributed to Grayscale’s Ethereum Mini Trust, with the other eight Ethereum funds reporting zero flows.
Ethereum ETFs saw a daily trading volume of $139.47 million, a decrease from the previous day’s $250.84 million. Since their launch in July 2024, U.S. Ethereum ETFs have accumulated negative flows of $607.47 million, indicating a more challenging market environment compared to their Bitcoin counterparts.
As the cryptocurrency ETF landscape continues to evolve, investors and market observers will be closely watching how these products perform and how regulatory decisions shape the future of digital asset investments.
