Bitcoin ETFs Pull in $371M While Ethereum Funds Drop by $12.7M

Based on the latest figures from Tuesday’s exchange-traded fund (ETF) trading sessions, the 12 spot bitcoin ETFs experienced another day of positive inflows

Cryptocurrency exchange-traded funds (ETFs) saw mixed fortunes on Tuesday, with bitcoin ETFs experiencing another day of positive inflows while ether funds recorded outflows.

According to the latest figures from ETF trading sessions, the 12 spot bitcoin ETFs saw a total of $371.02 million in inflows. This follows a trend of positive inflows for bitcoin ETFs over the past few weeks, as traders continue to flock to the flagship digital asset.

Among the bitcoin ETFs, Blackrock’s IBIT took the lead with $288.84 million in inflows, pushing its total net inflows to $22.07 billion. Fidelity’s FBTC also saw significant inflows of $35.03 million during the trading session.

Other notable inflows were recorded by Ark Invest and 21shares’ ARKB ($14.68 million), Grayscale’s Bitcoin Mini Trust ($13.36 million), and Grayscale’s Grayscale Bitcoin Trust (GBTC) ($7.99 million).

Meanwhile, several funds had a quiet day with no recorded gains or losses, including funds BRRR, BTCO, EZBC, and DEFI.

The latest inflows also pushed the cumulative net inflows since Jan. 11 to $19.73 billion. As of Oct. 16, the 12 funds collectively held $63.13 billion in bitcoin reserves, which represents 4.8% of the cryptocurrency’s total market value.

Turning to ether funds, these ETFs experienced outflows, with a total of $12.7 million exiting the ether funds.

Only Fidelity’s FETH saw positive action, absorbing $2.59 million on Tuesday. However, Grayscale’s Grayscale Ethereum Trust (ETHE) offset this with $15.29 million in outflows.

No other funds reported any activity in terms of inflows or outflows, according to sosovalue.xyz.

This loss adds to the cumulative net outflows recorded since July 23, which now total $554.52 million after the $12.7 million outflow.

Around $235.56 million was traded across the nine funds on Tuesday. As of Oct. 16, 2024, the nine funds collectively held $7.1 billion in ether, which accounts for 2.29% of ETH’s market capitalization.