On September 9, United States-based spot Bitcoin exchange-traded funds (ETFs) reversed a negative trend, registering a net inflow of $28.6 million after eight consecutive trading days of outflows. This shift in investor sentiment was highlighted by notable inflows into several prominent funds.
Despite experiencing its third-ever day of net outflows, BlackRock’s iShares Bitcoin Trust (IBIT) saw a decrease of $9.1 million, marking its smallest outflow to date, with previous larger outflows recorded on May 1 ($36.9 million) and August 29 ($13.5 million), according to data from Farside Investors.
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the day with substantial inflows, garnering $28.6 million. Other funds like the Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) also saw significant positive movements, with inflows of $22 million and $6.8 million respectively. Additionally, the Invesco Galaxy Bitcoin ETF (BTCO) reported an inflow of $3.1 million.
This turnaround followed a challenging period from August 27 to September 6, during which approximately $1.2 billion exited these ETFs. Coinciding with the influx of funds was a 5.35% rally in Bitcoin’s price, peaking at $57,635 before settling down to $56,682, as per CoinGecko’s tracking.
Overall, BlackRock continues to dominate the spot Bitcoin ETF market with a total of $20.9 billion in net inflows, outpacing other providers like Fidelity and ARK 21Shares, which have amassed $9.45 billion and $2.28 billion in inflows respectively. Across all funds, total net inflows have reached $16.93 billion, despite more than $20 billion in outflows from the Grayscale Bitcoin Trust (GBTC).
In contrast, the spot Ether ETFs are still facing challenges, with a net outflow of $5.2 million on September 9, marking seven days without any new inflows. BlackRock and Fidelity’s Ether products have seen inflows of $1 billion and $405.4 million respectively, while Bitwise and the Grayscale Ethereum Trust (ETHE) continue to navigate significant outflows.
