TLDR
- Bitcoin and Ethereum ETFs saw a combined total of over $1 billion in inflows on September 29.
- Fidelity’s FBTC Bitcoin ETF led the inflows with $298.70 million, accounting for more than half of the total.
- Ethereum ETFs saw even stronger inflows, with $546.96 million captured on the same day.
- BlackRock’s IBIT Bitcoin ETF experienced outflows of $46.64 million, marking its third consecutive day of withdrawals.
- Bitcoin’s price rebounded to $114,000, contributing to the market’s renewed bullish sentiment.
On September 29, U.S.-listed Bitcoin and Ethereum exchange-traded funds (ETFs) experienced a notable $1 billion in net inflows. This marks a noteworthy recovery after weeks of outflows. The sudden surge in investor confidence coincided with a broader market rebound and rising cryptocurrency prices.
Bitcoin ETFs Draw $521.95 Million in Inflows
Bitcoin ETFs saw strong inflows, totaling $521.95 million for the day. Fidelity’s FBTC led the way, capturing $298.70 million, which accounted for more than half of the total. Other significant contributors included Ark 21Shares’ ARKB, which brought in $62.18 million, and Grayscale’s BTC, with $47 million in inflows.
Invesco’s BTCO attracted $35.34 million, while VanEck’s HODL saw a rise of $30.66 million. Additionally, Grayscale’s GBTC experienced $26.91 million in inflows, along with smaller gains from Franklin Templeton’s EZBC and Valkyrie’s BRRR.
Notably, BlackRock’s IBIT Bitcoin ETF recorded outflows of $46.64 million, marking its third consecutive day of withdrawals in September. Despite this, Bitcoin ETFs still managed to achieve a solid day of net inflows.
Ethereum ETFs See Even Larger Inflows
Ethereum ETFs had an even stronger showing, attracting $546.96 million in inflows on the same day. Fidelity’s FETH was the top performer, pulling in $202.18 million. Following closely was BlackRock’s ETHA, with $154.20 million in inflows. Grayscale’s ETH and ETHE added $99.84 million and $22.77 million, respectively.
Bitwise’s ETHW also gained traction with $36.52 million in new investments. Ethereum’s strong performance reflected growing institutional interest in the digital asset space. The combined efforts of these major players showcased an ongoing shift in market sentiment.
Crypto Market Recovery Fuels ETF Inflows
The increase in inflows came amid a broader recovery in cryptocurrency prices. Bitcoin’s price climbed back to $114,000, recovering from earlier losses. Timothy Misir, head of research at BRN, noted that investors defended the $110,000 to $111,000 range, reinforcing bullish sentiment.
This positive market movement suggests that institutional investors are reacting to favorable signals. As long as Bitcoin holds above $109,000, the momentum appears poised to continue. The market’s resilience has attracted significant institutional interest, as reflected in the record ETF inflows.
