Spot Bitcoin ETFs record four-fold inflow spike, Ether ETFs recover from outflows

Spot Bitcoin exchange-traded funds in the US saw a significant jump in net positive flows, while spot Ether ETFs also saw net inflows, ending a five-day streak of outflows.

According to SoSoValue data, $116.96 million worth of inflows were recorded across 12 spot Bitcoin ETFs on September 10. This is a more than four-fold increase from the $37.29 million inflows recorded the previous day.

These two days of positive inflows into these ETFs came after eight days of outflows that reduced total assets under management by more than $1.18 billion.

Fideliy’s FBTC led the way for the second day in a row as the fund witnessed inflows of $63.2 million on September 10. Grayscale Bitcoin Mini Trust and ARK 21Shares’ ARKB followed with inflows of $41.1 million and $12.7 million, respectively. The remaining nine Bitcoin ETFs remained neutral.

Spot Bitcoin ETFs in/out | Source: SoSoValue

Interestingly, none of the BTC ETFs recorded any outflows during the day, a scenario not seen since July 16.

The total daily trading volume of 12 spot Bitcoin ETFs fell to $712.25 million on Sept. 10, down 56% from $1.61 billion the day before. At press time, Bitcoin (BTC) was down 1% over the past day, trading at $56,276, according to crypto.news.

Meanwhile, the nine-point Ethereum ETFs recorded net inflows of $11.4 million on September 10, ending five consecutive days of net negative flows. Fidelity’s FETH led the way, with $7.1 million inflows into the fund. Additional inflows were recorded by BlackRock’s ETHA, with $4.3 million inflows reported. The remaining seven ETH ETFs saw no inflows on the day.

The daily trading volume of these investment vehicles also fell from the previous day to $102.87 million on September 10. Spot Ether ETFs have seen cumulative net outflows of $562.06 million to date. At press time, Ethereum (ETH) also changed hands, down 0.8% at $2,326.

Despite recent inflows into these ETFs, recent developments suggest that institutional interest in Ethereum-based products is generally waning. VanEck recently announced that it will be shutting down its Ethereum Strategy ETF after less than a year, while WisdomTree withdrew its spot Ethereum ETF application with the U.S. Securities and Exchange Commission.