US-listed spot Bitcoin and Ethereum exchange-traded funds (ETFs) experienced a significant turnaround on Sept. 29, with over $1 billion in net inflows signaling a renewed investor confidence. This surge in inflows came after weeks of heavy outflows and coincided with an improvement in the broader crypto market sentiment, leading to a notable rebound in prices.
Bitcoin ETFs attracted $521.95 million in inflows, with Fidelity’s FBTC leading the way by pulling in $298.70 million, accounting for more than half of the day’s total inflows. Other major contributors included Ark 21Shares’ ARKB, Grayscale’s BTC, Bitwise’s BITB, and Invesco’s BTCO, each attracting significant amounts of fresh capital. However, BlackRock’s IBIT was the only Bitcoin ETF to register losses, with $46.64 million in outflows.
On the other hand, Ethereum ETFs saw even stronger inflows, totaling $546.96 million on the day. Fidelity’s FETH and BlackRock’s ETHA were the top performers in this category, with Grayscale’s ETH and ETHE also attracting substantial inflows. Bitwise’s ETHW saw $36.52 million in inflows.
The influx of capital into these ETFs coincided with a sharp recovery in asset prices, indicating that institutional demand remains highly sensitive to market signals. Bitcoin rebounded to $114,000, erasing previous losses and forming a V-shaped recovery. Investors defended the $110,000 to $111,000 range, creating higher lows that strengthened bullish conviction. Resistance is expected between $115,000 and $116,300, with consolidation likely before any further push higher. As long as Bitcoin stays above $109,000, momentum is expected to remain constructive.
Overall, the significant inflows into US-listed spot Bitcoin and Ethereum ETFs on Sept. 29 reflect a resurgence in investor confidence and a positive outlook for the broader crypto market. This renewed interest from institutional investors underscores the growing importance of ETFs in the digital asset space.