US Bitcoin ETFs had an impressive performance last week recording $2.1 billion in net inflows. Meanwhile, its Ethereum counterparts finally crossed paths, recording their third positive weekly flows since their debut in July.
Spot Bitcoin ETFs Record Highest Daily Inflow Since June
After returning to positive net inflows in the second week of October, spot Bitcoin ETFs attracted massive levels of investment last week which began with inflows of $555.86 million recorded on Monday, October 14, representing the highest daily inflows seen this year. Boxes. ETFs since June 4.
according to Data from SoSoValue, These Bitcoin ETFs saw positive investments in similar volumes for the rest of the week, peaking with a total inflow of $2.18 billion, the fourth-highest weekly net inflow these ETFs have recorded since their launch in January.
Of these reported numbers, more than $1.14 billion was invested in BlackRock’s IBIT, which maintains its position as the largest spot Bitcoin ETF with cumulative net inflows of $22.84 billion. Unsurprisingly, Fidelity’s FBTC came in second with inflows of $318.82 million.
Bitwise’s BITB also attracted investments worth $149.81 million, while Grayscale’s GBTC broke a 21-week streak of outflows, recording its largest weekly inflow of $91.47 million. All other spot Bitcoin ETFs, with the exception of Hashdex’s DEFI, also saw significant levels of inflows albeit below $50 million.
Currently, the total cumulative net inflows of spot Bitcoin ETFs is $20.98 billion. Meanwhile, these investment funds have total net assets of $66.11 billion, or 4.89% of Bitcoin’s market capitalization. These numbers achieved within ten months of trading show the huge potential of these ETFs in driving Bitcoin adoption.
Ethereum ETFs Spot Return to Positive Net Flows
Last week, Ethereum ETFs also recorded positive weekly inflows amounting to $78.98 million. While this number appears remarkably small compared to Bitcoin ETFs, it represents the third net positive inflow in thirteen weeks of trading.
Similar to its Bitcoin counterpart, BlackRock’s ETHA accounted for the majority of the reported numbers with an inflow of $49.76 million, while Fidelity’s FETH came in second, attracting $43.52 million in investments. Ethereum ETFs continue to report total negative cumulative net outflows of $479.99 million while holding 2.31% of Ethereum’s market capitalization of 7.35 billion ETH.
At the time of writing, Ethereum is trading at $2,649 with a gain of 0.49% in the past day. Meanwhile, Bitcoin is valued at $68,168 after a slight decline over the past 24 hours.