US Spot Bitcoin ETFs Experience Continued Inflows Led by BlackRock's IBIT

US Spot Bitcoin ETFs Experience Continued Inflows Led by BlackRock's IBIT

US-listed spot Bitcoin exchange-traded funds (ETFs) have recorded their fifth consecutive day of inflows, totaling $106 million on Wednesday. The surge was primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $184 million in net investments, according to data from Farside Investors.

In contrast, other funds like Bitwise’s Bitcoin ETF (BITB) saw modest gains of $2 million. However, not all funds enjoyed this upward trend. Fidelity’s Bitcoin Fund (FBTC) faced notable outflows of approximately $33 million, while the ARK Invest/21Shares Bitcoin ETF (ARKB) experienced a $47 million decline. Additionally, the Grayscale Bitcoin Trust (GBTC) reported no inflows and has seen over $20 billion withdrawn since its conversion to an ETF, although the pace of withdrawals has slowed in recent weeks.

Overall, US spot Bitcoin ETFs have accumulated approximately $246 million in net inflows this week, reflecting sustained interest in Bitcoin as an investment vehicle. In a parallel development, US-listed Ethereum spot ETFs also performed strongly on Thursday, with a net inflow of $43.23 million, despite a cumulative outflow of $580.94 million over the past week.

Grayscale’s Ethereum ETF (ETHE) led the Ethereum-focused funds with a minor daily inflow, though it has faced total outflows of $2.85 billion to date. BlackRock’s Ethereum ETF (ETHA) attracted $9.38 million on Monday, while Fidelity’s FETH garnered $6.45 million. Meanwhile, VanEck’s ETHV and Franklin’s EZET ETFs did not see any net inflows.

As total trading volume across Ethereum ETFs reached $124.18 million, the combined net assets now stand at $7.03 billion, accounting for 2.26% of Ethereum's market capitalization.

In regulatory news, the U.S. Securities and Exchange Commission (SEC) has postponed its decision regarding Nasdaq's proposed rule change to list and trade options on BlackRock’s iShares Ethereum Trust (ETHA). The decision, initially expected by September 26, is now anticipated by November 10. The SEC cited the need for further evaluation of potential market stability implications.

This delay follows the SEC's recent approval of options trading for BlackRock's iShares Bitcoin Trust (IBIT) after amendments addressed concerns related to market manipulation and risk management. The SEC is also reviewing a separate proposal from NYSE American LLC, which is experiencing a similar postponement.