US spot Bitcoin ETFs posted stellar results last week, recording $2.1 billion in net inflows. Meanwhile, their Ethereum counterparts have finally recovered, posting their third positive weekly impact since their July IPO.
Bitcoin spot ETFs record highest daily inflows since June
After returning to positive net flows in the second week of October, spot Bitcoin ETFs attracted massive levels of investment last week, which began with $555.86 million in inflows recorded on Monday, October 14, the highest daily inflow recorded by these ETFs from June 4.
According to data from SoSoValue, these Bitcoin ETFs experienced positive investments of similar size throughout the rest of the week, culminating in a total inflow of $2.18 billion, the fourth-largest weekly net flow recorded by these mutual 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 spot Bitcoin ETF with $22.84 billion in cumulative net inflows. It is therefore not surprising that Fidelity’s FBTC took a distant second place with proceeds valued at $318.82 million.
Bitwise’s BITB also attracted $149.81 million in investments, while Grayscale’s GBTC snapped a 21-week outflow streak, recording its largest weekly inflow of $91.47 million. All other spot Bitcoin ETFs, except Hashdex’s DEFI, also saw significant levels of inflows, although less than $50 million.
Currently, the cumulative total net inflow of Bitcoin spot ETFs is $20.98 billion. Meanwhile, these mutual funds have total net assets of $66.11 billion, which is 4.89% of Bitcoin’s market capitalization. These numbers, achieved within ten months of the transaction, demonstrate the enormous potential of these ETFs in driving Bitcoin adoption.
Find Ethereum ETFs Back to Positive Net Flows
Last week, Ethereum spot ETFs also saw positive weekly inflows of $78.98 million. While this number seems significantly compact compared to Bitcoin ETFs, it represents the third positive net flow in thirteen weeks of trading.
Like their Bitcoin counterpart, BlackRock’s ETHA accounted for the bulk of the reported figures with inflows of $49.76 million, while Fidelity’s FETH came in second place, attracting investments worth $43.52 million. Ethereum spot ETFs continue to see negative cumulative net outflows of $479.99 million while maintaining 2.31% of Ethereum’s market cap represented in ETH worth $7.35 billion.
At the time of writing, Ethereum is trading at $2,649, up 0.49% over the past day. Meanwhile, Bitcoin is valued at $68,168 after falling slightly in the last 24 hours.
