Bitcoin and Ethereum ETFs Experience Inflows and Recovery
Bitcoin exchange-traded funds in the U.S. saw a significant increase in inflows, while Ether ETFs showed signs of recovery after a period of weak flows.
According to data from SoSoValue, on Jan. 30, the 12 spot Bitcoin ETFs attracted $588.22 million in inflows, marking a nearly 540% surge from the previous day. BlackRock’s IBIT led the way with $321.5 million in inflows, followed by Fidelity’s FBTC with $209.14 million. Bitwise’s BITB and ARK 21Shares’ ARKB also saw inflows of $22.98 million and $12.64 million, respectively.
Notably, none of the BTC ETFs experienced outflows on that day. Other Bitcoin ETFs contributing to the positive momentum included Franklin Templeton’s EZBC with $6.11 million, VanEck’s HODL with $5.97 million, Invesco Galaxy’s BTCO with $5.24 million, and Grayscale’s mini Bitcoin Trust with $4.65 million.
The total trading volume for these investment products reached $2.94 billion, with the cumulative total net inflow surpassing $40 billion for the first time since their launch. The BTC ETFs now hold total net assets of $123.43 billion, representing 5.94% of the total BTC supply. As of press time, Bitcoin was trading at $104,267 per coin, down 0.8% over the past day.
Ether ETFs also bounced back on Jan. 30, with $67.77 million entering the funds after three days of negative flows totaling $141.07 million. BlackRock’s ETHA led the inflows with $79.86 million, followed by Fidelity’s FETH with $15.41 million, and Grayscale’s Mini Ethereum Trust with $12.79 million.
However, Grayscale’s ETHE fund reported an outflow of $40.29 million, offsetting a significant portion of the inflows. The total trading volume for Ethereum ETFs was $306.99 million, with total net inflows since launch reaching $2.73 billion. Ethereum was up 1.5% over the past 24 hours, trading at $3,248 per coin.
Overall, the influx of funds into Bitcoin and Ethereum ETFs indicates growing investor interest in these digital assets and their respective ETF products. The positive momentum in inflows for both BTC and ETH ETFs bodes well for the cryptocurrency market as a whole.