Spot Bitcoin exchange-traded funds (ETFs) in the U.S. saw a significant rebound, recording $28.72 million in net inflows on Monday, breaking an eight-day streak of outflows. Fidelity’s FBTC led the charge, contributing $28.6 million, with Bitwise’s BITB following at $21.99 million. Other funds saw more modest inflows, including Ark Invest and 21Shares’ ARKB ($6.81 million) and Invesco’s BTCO ($3.14 million).
However, the overall performance was impacted by Grayscale’s GBTC, which recorded $22.76 million in outflows. BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, also reported $9.06 million in outflows, continuing its downward trend since August 26. In total, U.S. Bitcoin ETFs traded $1.61 billion on Monday, down from $2.39 billion on Friday.
Since their January 2024 launch, these ETFs have attracted $16.92 billion in net inflows. Yet, digital asset investment products saw a sharp downturn, with $726 million in outflows over the past week, marking one of the largest outflows since March 2024. Bitcoin alone accounted for $643 million in outflows, while short-Bitcoin products saw minor inflows of $3.9 million as investors hedged against potential price drops.
Spot Ethereum ETFs Face Continued Outflows
Ethereum ETFs continue to struggle, marking their fifth consecutive day of net outflows with $5.20 million lost on Monday. Grayscale’s ETHE led these outflows with $22.64 million, though other funds saw minor inflows, such as Fidelity’s FETH ($7.62 million) and Bitwise’s ETHW ($1.85 million). The nine Ethereum ETFs saw a trading volume of $124.51 million on Monday, down from $210.43 million on Friday. Since their launch, Ethereum ETFs have faced cumulative outflows totaling $573 million as of early September.
Despite these challenges, crypto-related ETFs remain a dominant force in the ETF market. Of the 400 new ETFs launched in 2024, the top four are all spot Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. Additionally, the iShares Ethereum Trust ETF became the seventh-largest ETF launch of the year, surpassing $1 billion in inflows by August.
