Key Highlights
- Bitcoin ETFs saw $253.54 million in net inflows on Friday, October 11.
- Ethereum funds experienced outflows, losing $97,110 on the same day.
- Fidelity's FBTC led the inflows, while Grayscale’s GBTC saw minor outflows.
- Year-to-date Bitcoin ETF inflows reached $18.81 billion, contrasting Ethereum's weaker performance.
Bitcoin ETFs Record $253M Inflows
On Friday, October 11, the Bitcoin exchange-traded funds (ETFs) market experienced a significant boost, recording $253.54 million in inflows, marking a strong performance for Bitcoin-based investment products.
The surge came from various Bitcoin ETFs in the U.S. market, with Fidelity’s FBTC leading the charge, pulling in $117.10 million. Ark Invest’s ARKB followed closely with $97.58 million in inflows, while Bitwise’s BITB contributed an additional $38.81 million.
This surge in inflows highlights growing confidence in Bitcoin ETFs as investors continue to show interest in Bitcoin exposure through these financial instruments.
Invesco’s BTCO chipped in with $7.88 million, while Vaneck’s HODL added $14.26 million to the tally. However, Grayscale’s GBTC, one of the more well-known Bitcoin ETFs, saw outflows of $22.09 million, slightly reducing the overall gains.
These inflows have pushed the cumulative year-to-date total for Bitcoin ETFs to $18.81 billion, with the 12 funds collectively holding $58.66 billion in Bitcoin reserves.
Ethereum Funds Experience Modest Outflows
While Bitcoin ETFs enjoyed a strong day, the same could not be said for Ethereum funds. On Friday, Ethereum funds faced $97,110 in outflows, reflecting a stark contrast to the inflows recorded by Bitcoin ETFs.
Fidelity’s FETH stood out among the Ethereum-based ETFs, managing to secure $8.61 million in inflows. However, this was offset by Grayscale’s ETHE, which saw outflows of $8.71 million.
The remaining Ethereum ETFs remained relatively unchanged, neither recording gains nor losses. The overall weakness in Ethereum funds has brought their cumulative outflows for the year to $558.88 million.
Despite this, Ethereum funds still hold a substantial $6.74 billion in reserves. However, this recent dip reflects market trends that show Bitcoin outperforming Ethereum in terms of ETF investment activity.
Final Notes
The contrasting performances of Bitcoin ETFs and Ethereum funds on Friday, October 11, offer a clear snapshot of current market trends.
With $253 million flowing into Bitcoin ETFs and Ethereum funds seeing modest outflows, it’s evident that Bitcoin remains the preferred choice for many investors seeking exposure to the crypto market.
As the year progresses, it will be interesting to see if Ethereum funds can regain momentum or if Bitcoin will continue to dominate the inflows in the ETF space.