Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint net inflows to close the trading week, and both saw even larger inflows earlier in the week. However, ETH ETFs are still experiencing net outflows since launching this summer.
According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net inflows of $92 million on Friday, Sept. 20, 42% lower than the $158 million inflows recorded on Sept. 19. Fidelity’s FBTC led the pack with $26.1 million in inflows, dropping from the previous day’s inflow of $49.9 million.
ARK 21Shares’s ARKB and Bitwise’s BITB followed with $22 million and $15.1 million inflows, respectively. Additionally, Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR drew in $13.4 million, $7.1 million, and $5.2 million, respectively.
Invesco’s BTCO also saw modest inflows of $3.1 million after two days of no trading activity. While the remaining five BTC ETFs witnessed no trading activity.
Since launching in January, spot BTC ETFs have posted $17.7 billion in total net inflows.
At the time of writing, spot Bitcoin (BTC) is trading at approximately $63,600, per data from crypto.news.
ETH ETFs also ended the week with inflows
Similarly, the nine U.S.-based spot Ethereum ETFs also experienced net inflows on Friday, totaling $2.87 million. This also represented slowed momentum from Thursday’s net inflows of $5.2 million. All of the inflows on Friday came into Grayscale’s Ethereum Mini Trust (ETH) following two days of no trading activity for that fund. Meanwhile, the remaining eight ETH ETFs saw zero trading activity on Sept. 20, as well as for most of last week.
Earlier in the week, Grayscale’s other ETP, Ethereum Trust (ETHE), continued to see major outflows, as investors evidently moved a portion of the funds into Grayscales lower-fee product, the Mini Trust.
The spot Ether ETFs have experienced a cumulative net outflow of $607.47 million to date since their launch in July. At the time of publication, spot Ethereum (ETH) is up almost 15% on the week, trading around $2,646.
Also on Friday, Sept. 20, the U.S. Securities and Exchange Commission granted approval for Nasdaq to list and trade options with BlackRock’s Bitcoin ETF, IBIT, as the underlying.
According to the SEC filing, the IBIT options will be physically settled in Bitcoin. Nasdaq highlighted that the ETF options will be subject to the exchange’s listing standards.
As crypto.news previously reported, although the product still needs approval from the OCC and CFTC before trading, ETF analysts saw it as a “huge win” because they believe it will attract more liquidity and institutional investment into crypto.
