Bitcoin Spot ETFs wrapped up the previous week with a surge in net inflows, marking the second uptick within the week. Four primary Bitcoin Spot ETFs contributed to this influx, while others remained stagnant.
Meanwhile, the performance of Ethereum spot ETFs has been consistently negative. Consequently, Ethereum finds itself trailing behind Bitcoin in terms of positive traction.
Bitcoin ETFs Experience Influx
Recent data from SosoValue indicates that Bitcoin ETFs observed an inflow of $253.54 million on October 11. This marked the second instance of inflow for Bitcoin ETFs during the week, following a streak of three consecutive outflows.
Contributing to the influx were Fidelity, Ark 21 Shares, Bitwise, InvescoGalaxy, and VanEck, while BlackRock and other ETFs remained static in terms of flows.
A breakdown of the figures reveals that Fidelity led with the highest inflow of $117 million, closely followed by Ark 21 Shares at $97.6 million. Bitwise added $38.8 million, with the remaining inflows distributed among other ETFs.
As of now, the total netflows for Bitcoin spot ETFs reached $18.81 billion, boasting a total net asset value of $58.66 billion.
Bitcoin’s Price Surge and ETF Inflows Aligned
The inflow into Bitcoin spot ETFs aligned with a positive price movement for BTC. After several days of declines, Bitcoin surged by over 3% on October 11, climbing from $60,279 to $62,518. This upward trajectory continued on October 12, with Bitcoin trading around $63,000 at the time of reporting.
If Bitcoin sustains its positive momentum into the weekend, further ETF inflows may ensue in the upcoming week, signaling heightened investor interest.
Ethereum Spot ETFs Face Negative Netflows
In sharp contrast, Ethereum spot ETFs grapple with scarce positive inflows compared to Bitcoin ETFs. While Ethereum recorded a modest inflow of $3.06 million on October 11, seven out of nine Ethereum ETFs registered zero inflows, with no activity on the previous day.
The cumulative netflows for Ethereum Spot ETFs remain in the red at -$558.88 million, with a total net asset value of $6.74 billion. Despite sporadic inflows, Ethereum’s Spot ETF performance continues to lag behind Bitcoin’s, indicating a more challenging landscape for ETH investors.