The latest data on spot Bitcoin exchange-traded funds (ETFs) in the U.S. shows a reversal in their outflow trend, with $28.72 million in net inflows recorded on Monday. Fidelity’s FBTC and Bitwise’s BITB led the inflows, while other funds like Ark Invest and 21Shares’ ARKB, and Invesco’s BTCO also saw smaller gains. However, Grayscale’s GBTC continued to experience outflows, with $22.76 million in outflows on the same day. The largest spot Bitcoin ETF, BlackRock’s IBIT, also reported $9.06 million in outflows, marking a continuous trend since August 26.
On the other hand, the digital asset investment products have experienced a significant downturn, with outflows totaling $726 million over the past week. Bitcoin saw outflows totaling $643 million, while short-Bitcoin products saw minor inflows, suggesting that some investors are hedging against further price drops. Spot Ethereum ETFs also experienced outflows for the fifth consecutive day, with $5.20 million reported on Monday. Grayscale’s ETHE led the outflows, while Grayscale Ethereum Mini Trust (ETH) saw inflows. Fidelity’s FETH and Bitwise’s ETHW also recorded inflows. Overall, Ethereum spot ETFs have seen consistent outflows since their launch.
Despite recent outflows, crypto-related ETFs continue to dominate the ETF market. Out of the 400 new ETFs launched in 2024, the top four are all spot Bitcoin ETFs. Notable offerings include BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, the ARK 21Shares Bitcoin ETF, and Bitwise’s Bitcoin ETF Trust. Additionally, the iShares Ethereum Trust ETF became the seventh-largest ETF launch in 2024, surpassing $1 billion in inflows as of August.
In summary, the U.S. spot Bitcoin ETF market saw a reversal in outflow trends with $28.72 million in net inflows recorded on Monday. While some funds like Fidelity’s FBTC and Bitwise’s BITB saw gains, Grayscale’s GBTC continued to experience outflows along with other ETFs. On the other hand, the digital asset investment products have experienced a significant downturn, with Bitcoin and Ethereum ETFs seeing outflows. Despite this, crypto-related ETFs continue to dominate the market, with spot Bitcoin ETFs leading the way in new launches and inflows. Overall, the ETF market remains dynamic, with investors closely monitoring the trends and performance of various funds.
