Spot Bitcoin and Ethereum exchange-traded funds in the US saw joint net inflows to close out the trading week, and both saw even larger inflows earlier this week. However, ETH ETFs are still seeing net outflows since their launch this summer.
According to data from SoSoValue, the 12 Bitcoin spot ETFs saw net inflows of $92 million on Friday, September 20, down 42% from the $158 million recorded on September 19. Fidelity’s FBTC led the pack with $26.1 million in inflows, down from $49.9 million the previous day.
ARK 21Shares’ ARKB and Bitwise’s BITB followed with inflows of $22 million and $15.1 million, respectively. Additionally, Grayscale Bitcoin Mini Trust, VanEck’s HODL, and Valkyrie’s BRRR attracted $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 saw no trading activity.
Since their launch in January, Spot BTC ETFs have seen $17.7 billion in total net inflows.
At the time of writing, Bitcoin (BTC) spot is trading at around $63,600, according to data from crypto.news.
ETH ETFs also ended the week with inflows
Similarly, the nine U.S.-based spot Ethereum ETFs also saw net inflows on Friday, totaling $2.87 million. This also represents a slowdown from Thursday’s net inflows of $5.2 million. All of Friday’s inflows came into Grayscale’s Ethereum Mini Trust (ETH) after two days of no trading activity for that fund. Meanwhile, the remaining eight ETH ETFs saw no trading activity on September 20, as well as for most of last week.
Earlier in the week, Grayscale’s other ETP, Ethereum Trust (ETHE), continued to see significant outflows, with investors apparently shifting some funds to Grayscale’s lower-fee product, the Mini Trust.
Spot Ether ETFs have seen 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 nearly 15% on the week, trading around $2,646.
Also on Friday, September 20, the U.S. Securities and Exchange Commission authorized 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 noted that the ETF options will be subject to the exchange’s listing standards.
As crypto.news previously reported, while the product still needs approval from the OCC and CFTC before trading, ETF analysts saw it as a “huge win” as they believe it will attract more liquidity and institutional investment into crypto.
