US-based spot Bitcoin ETFs produced a magnificent performance last week, recording $2.1 billion in net inflows. Meanwhile, its Ethereum counterparts have finally turned the corner and recorded their third positive weekly entry since their trading debut in July.
Bitcoin spot ETFs record largest daily inflow since June
After a return to positive net flows In the second week of October, Bitcoin spot ETFs attracted massive levels of investments over the past week, which began with $555.86 million worth of inflows recorded on Monday, October 14, representing the largest daily inflows. highs observed by these ETFs since June 4.
According SoSoValue data, These Bitcoin ETFs saw positive investments of similar sizes for the remainder of the week, culminating in a total inflow of $2.18 billion, which is the fourth-highest weekly net inflow recorded by these investment funds since their launch in January.
Of these reported figures, over $1.14 billion was invested in BlackRock’s IBIT, which maintains its position as the largest Bitcoin spot ETF with cumulative net inflows of $22.84 billion. Unsurprisingly, Fidelity’s FBTC came in a distant second with inflows valued at $318.82 million.
Bitwise’s BITB also attracted investments valued at $149.81 million, while Grayscale’s GBTC broke a 21-week outflow streak, recording its biggest weekly inflow of $91.47 million. All other spot Bitcoin ETFs except Hashdex’s DEFI also saw significant levels of inflows, albeit below $50 million.
Currently, the cumulative total net inflows of spot Bitcoin ETFs stand at $20.98 billion. Meanwhile, these investment funds have total net assets of $66.11 billion, or 4.89% of Bitcoin’s market capitalization. These figures, which were achieved within ten months of trading, demonstrate the enormous potential of these ETFs to drive Bitcoin adoption.
Spot Ethereum ETFs Returning to Positive Network Flows
Last week, Ethereum spot ETFs also recorded positive weekly inflows to the tune of $78.98 million. While this figure appears significantly small compared to that of Bitcoin ETFs, it represents the third positive net flow in thirteen weeks of trading.
Like its counterpart Bitcoin, BlackRock’s ETHA accounted for the majority of reported figures with an inflow of $49.76 million, while Fidelity’s FETH came in second, attracting investments valued at $43.52 million. Ethereum spot ETFs continue to report a negative cumulative total net outflow of $479.99 million, while holding 2.31% of Ethereum’s market capitalization represented by $7.35 billion of ETH.
At the time of writing, Ethereum is trading at $2,649 with a gain of 0.49% in the last day. Meanwhile, Bitcoin is valued at $68,168 after a small drop in the last 24 hours.
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