US Spot Bitcoin ETFs Surge with $106M Inflows, BlackRock’s IBIT Dominates Market
US spot Bitcoin ETFs continued their impressive run, recording inflows of $106 million on Wednesday, marking the fifth consecutive day of growth. The surge highlights strong investor interest in Bitcoin as a viable asset class, particularly through exchange-traded funds (ETFs).
BlackRock’s iShares Bitcoin Trust (IBIT) was the leading driver of these inflows, attracting $184 million in net investments, according to data from Farside Investors. This considerable influx underscores the growing dominance of IBIT in the Bitcoin ETF market, as it captures the majority of new capital. In contrast, Bitwise’s Bitcoin ETF (BITB) saw more modest growth, adding $2 million to its portfolio.
Mixed Performance Across Major Bitcoin ETFs
Not all Bitcoin ETFs shared in the positive momentum. Fidelity’s Bitcoin Fund (FBTC) reported significant outflows, with investors withdrawing $33 million. ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) also experienced outflows, losing $47 million. These outflows suggest that investors are consolidating their positions into more robust funds, like BlackRock’s IBIT, which has attracted significant attention in recent weeks.
Another notable Bitcoin ETF, Grayscale’s Bitcoin Trust (GBTC), saw no new inflows. Since its conversion to an ETF, GBTC has faced over $20 billion in investor withdrawals, though the pace of outflows has slowed recently. The fund’s struggles reflect investors’ shifting preference toward newer and more actively managed options in the market.
US Spot Bitcoin ETFs Show Steady Growth
Despite some funds experiencing outflows, the overall performance of US spot Bitcoin ETFs remains strong. With a collective total of $246 million in net inflows this week, the sector continues to capture sustained interest from investors. This trend highlights the increasing appeal of Bitcoin-based ETFs as a mainstream investment vehicle, especially as the asset class matures and regulatory uncertainty diminishes.
Ethereum Spot ETFs See Mixed Results
US-listed Ethereum spot ETFs also recorded significant activity, with a net inflow of $43.23 million on Thursday. Grayscale’s Ethereum ETF (ETHE) led the charge with minor daily inflows, although it has seen a total outflow of $2.85 billion to date. BlackRock’s Ethereum ETF (ETHA) followed closely, pulling in $9.38 million in investments, while Fidelity’s FETH ETF accumulated $6.45 million.
In contrast, VanEck’s ETHV and Franklin’s EZET Ethereum ETFs reported no net inflows, showing a more mixed performance across the sector. Overall, the total value traded across Ethereum ETFs reached $124.18 million, with net assets now standing at $7.03 billion—accounting for 2.26% of Ethereum’s total market capitalization.
SEC Delays Decision on Ethereum ETF Options
While investor interest in cryptocurrency ETFs remains high, regulatory decisions continue to play a pivotal role. The U.S. Securities and Exchange Commission (SEC) recently delayed its decision on a proposed rule change by Nasdaq to list and trade options on BlackRock’s iShares Ethereum Trust (ETHA). Initially expected by September 26, the decision has now been postponed until November 10.
The SEC stated that the delay allows for further evaluation of potential market impacts, particularly regarding market stability. This move is in line with previous regulatory practices, as the SEC has the authority to extend review periods by up to 90 days to assess the risks and benefits associated with such proposals. This delay follows the SEC’s recent approval of options trading for BlackRock’s iShares Bitcoin Trust (IBIT), which included amendments addressing concerns about market manipulation.
Outlook for US Spot Bitcoin ETFs
With BlackRock’s IBIT continuing to dominate inflows and investor confidence in spot Bitcoin ETFs growing, the market is expected to expand further. As regulatory clarity improves and more options become available, US spot Bitcoin ETFs could see even more significant inflows, solidifying their role in bringing Bitcoin to mainstream investors.