The US-based spot Bitcoin ETFs have delivered stellar performance this past week, recording net inflows of $2.1 billion. Meanwhile, their Ethereum counterparts have finally turned the corner, recording their third positive weekly inflows since their trading debut in July.
Spot Bitcoin ETFs Record Highest Daily Inflows Since June
After a return to positive net flows in the second week of October, spot Bitcoin ETFs attracted massive amounts of investment over the past week, starting with an inflow worth $555.86 million on Monday, October 14, representing the highest daily inflows this year. companies have seen. ETFs since June 4.
According to data from SoSoValue, These Bitcoin ETFs experienced positive investments of similar magnitude for the rest of the week, culminating in total inflows of $2.18 billion, which is the fourth highest weekly net flow recorded by these mutual funds since their launch in January.
Of these reported figures, more than $1.14 billion was invested in BlackRock’s IBIT, which maintains its position as the largest spot Bitcoin ETF with cumulative net inflows of $22.84 billion. Not surprisingly, Fidelity’s FBTC came in a distant second with inflows worth $318.82 million.
Bitwise’s BITB also attracted investments worth $149.81 million, while Grayscale’s GBTC broke a 21-week streak of outflows and recorded the largest weekly inflow of $91.47 million. All other spot Bitcoin ETFs, except Hashdex’s DEFI, also experienced significant inflows, albeit below $50 million.
Currently, the cumulative total net inflows of the spot Bitcoin ETFs are $20.98 billion. Meanwhile, these mutual funds have total net assets of $66.11 billion, or 4.89% of the Bitcoin market capitalization. These numbers, achieved within ten months of trading, demonstrate the enormous potential of these ETFs in driving Bitcoin adoption.
Spot Ethereum ETFs Back to Positive Net Flows
In the past week, spot Ethereum ETFs also recorded positive weekly inflows of $78.98 million. While this figure seems significantly small compared to that of the Bitcoin ETFs, it represents the third positive net flow in thirteen trading weeks.
Like their Bitcoin counterpart, BlackRock’s ETHA accounted for the majority of the reported figures with inflows of $49.76 million, while Fidelity’s FETH came in second, attracting investments worth $43.52 million. The spot Ethereum ETFs continue to report negative cumulative total net outflows of $479.99 million, while holding 2.31% of the Ethereum market cap, represented in $7.35 billion ETH.
At the time of writing, Ethereum is trading at $2,649 with a gain of 0.49% over the past day. Meanwhile, Bitcoin is valued at $68,168, after a small decline in the past 24 hours.
