US-based Spot Bitcoin and Ethereum ETFs Experience Notable Net Inflows on Sept. 24, 2024

Bitcoin (BTC) ETFs accumulated $136M. In comparison, Ethereum (ETH) ETFs gained $62.5M, marking a solid rebound for both assets after a brief period of little

Bitcoin (BTC) ETFs saw remarkable net inflows on Monday, Sept. 24, as spot Bitcoin ETFs experienced a total of $136 million flowing into the funds.

This follows a period of minimal inflows and outflows for both BTC and ETH ETFs, which began in August. However, both assets experienced a solid rebound on Monday.

Spotonchain reports that the 12 Bitcoin funds, which include BlackRock’s IBIT, saw a combined $135.95 million flowing into the funds.

Over the past four days, these funds have accumulated a total of $390.7 million in net inflows, which could indicate renewed interest from investors in this investment option and the leading digital asset.

Bitcoin ETFs Experience Net Inflows of $136M, ETH ETFs Gain $62.5M: Spot On Chain Data Blockworks Pro Blockworks Pro Markets MarketsBitcoin (BTC) ETFs saw remarkable net inflows on Monday, Sept. 24, as spot Bitcoin ETFs experienced a total of $136 million flowing into the funds.

This follows a period of minimal inflows and outflows for both BTC and ETH ETFs, which began in August. However, both assets experienced a solid rebound on Monday.

Spotonchain reports that the 12 Bitcoin funds, which include BlackRock’s IBIT, saw a combined $135.95 million flowing into the funds.

Over the past four days, these funds have accumulated a total of $390.7 million in net inflows, which could indicate renewed interest from investors in this investment option and the leading digital asset.

BlackRock Drives Significant ETF Inflows

Interestingly, BlackRock’s IBIT led the inflows with $98.9 million, marking its second consecutive day of positive performance.

The fund’s total net inflows have now reached $21.03 billion. Notably, IBIT began trading on the New York Stock Exchange on April 21, 2023, under the ticker symbol “IBIT.”

The ETF tracks the performance of a single futures contract on BTC, offering investors exposure to the leading cryptocurrency through a traditional exchange-traded fund (ETF) structure.

Among other Bitcoin ETFs, Bitwise’s BITB and Fidelity’s FBTC followed with positive flows of $17.4 million and $16.8 million, respectively.

Additionally, the Grayscale Bitcoin Mini Trust also attracted $2.9 million in inflows on Monday.

Meanwhile, the other Bitcoin ETFs recorded zero inflows and zero outflows. Consequently, the trading volumes for all these BTC funds reached $1.11 billion on Sept. 24, a noticeable increase from the $949.72 million recorded the previous day.

Cumulatively, these funds have seen net inflows of $17.83 billion since their inception.

At the time of writing, BTC trades at $63,710, gaining 0.3% in the last 24 hours, and is up nearly 63.4% year-to-date, according to CoinGecko.

Ethereum ETFs Note Modest Gains

After recent outflows, the nine US-based spot ETH funds recorded net inflows of $62.5 million on Sept. 24, a reversal from the previous day’s negative flows.

This marks the first day of inflows for ETH ETFs following a string of outflows.

notably, BlackRock’s ETHA led the flows, drawing in $59.3 million. Among other ETH ETFs, VanEck’s ETHV and Invesco’s QETH saw smaller flows of $1.9 million and $1.3 million, respectively. However, other ETH ETFs recorded no trading activity.

The total trading volume for ETH funds rose to $180.42 million, up from $167.35 million on the previous day.

Despite this recent surge, cumulative net outflows for Ethereum ETFs have reached $624.17 million since their launch.

Meanwhile, ETH currently trades at $2,619, losing 0.6% of its value over the past 24 hours and is down about 16.8% year-to-date, according to CoinGecko.