U.S. Bitcoin ETFs See $92 Million Net Inflow Amid Market Volatility

• Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a net inflow of $92 million on Friday.
• This week, bitcoin ETFs saw nearly $400 million in net inflows.
• On Friday alone, these inflows were distributed among seven bitcoin ETFs: Fidelity’s FBTC garnered $26.12 million, while Ark Invest and 21Shares’ ARKB recorded $21.99 million.

Discover the latest trends in the crypto market as we explore significant inflows in bitcoin ETFs, the performance of ether funds, and the U.S. SEC’s noteworthy developments.

Bitcoin ETFs Experience Significant Net Inflows

This past Friday, U.S. bitcoin ETFs recorded a substantial net inflow of $92 million. Throughout the week, these inflows amounted to nearly $400 million, highlighting a burgeoning interest in bitcoin ETFs. The daily inflows on Friday were distributed across seven different ETFs. According to SoSoValue data, Fidelity’s FBTC reported inflows of $26.12 million, whereas Ark Invest and 21Shares’ ARKB saw an inflow of $21.99 million. Additionally, Bitwise’s BITB attracted positive flows worth $15.08 million, and Grayscale’s Bitcoin Mini Trust recorded $13.37 million in net inflows.

Distribution of Bitcoin ETF Inflows Among Various Funds

Other notable bitcoin ETFs, such as those from VanEck, Valkyrie, and Invesco, also reported minor inflows. Notably, there were no net outflows on Friday. Five funds, including BlackRock’s IBIT, indicated zero flows. On that same day, U.S. bitcoin funds achieved a total daily trade volume of $980.59 million and accumulated a total net inflow of $17.69 billion since their inception in January.

U.S. SEC Approves Options Trading for BlackRock’s Bitcoin ETF

In a related development, the U.S. Securities and Exchange Commission (SEC) authorized the listing and trading of options for BlackRock’s IBIT. These options are anticipated to be listed and traded on the Nasdaq, offering investors additional flexibility and opportunities in managing their bitcoin investments.

Ether ETFs See Positive Flows Amid Market Fluctuations

Spot ether ETFs reported their second successive day of positive total flows, amounting to $2.87 million on Friday, primarily driven by Grayscale’s Ethereum Mini Trust. Conversely, the other eight ether funds recorded zero flows. The total daily trade volume for ether funds on Friday was $139.47 million, a decline from the $250.84 million recorded on Thursday. Since their launch in July, U.S. Ethereum ETFs have reported negative flows totaling $607.47 million, according to SoSoValue data.

Market Performance of Bitcoin and Ether

In the past 24 hours, the price of bitcoin witnessed a marginal drop of 0.57%, trading at $63,116, according to COINOTAG’s bitcoin price page. In contrast, the price of ether increased by 0.24%, reaching $2,551 at the time of writing. These fluctuations in the market prices highlight the ongoing volatility within the crypto market, offering both challenges and opportunities for investors.

Conclusion

This week has underscored the dynamic nature of the cryptocurrency market, with significant net inflows in bitcoin ETFs and the U.S. SEC’s approval of options trading for BlackRock’s IBIT. As ether ETFs also show a trend of positive flows, the market continues to evolve, presenting new opportunities and challenges for investors. Staying informed and considering the long-term implications of these developments is crucial for making strategic investment decisions.