Strong day for Bitcoin and Ethereum ETFs: $149 million inflow

The US Bitcoin (BTC) and Ethereum (ETH) spot Exchange-Traded Funds (ETFs) had a successful day yesterday for the second time this week.

For Bitcoin ETFs, it was the second straight day of inflows exceeding $100 million, something not seen in quite some time. The Ethereum ETFs also posted an exceptional performance, raising tens of millions of dollars for the second day in a row.

Let’s dive into the results.

BTC funds raise $105.9 million

Data from Farside Investors charts that Bitcoin funds launched in January saw a combined net inflow of $105.9 million yesterday. This strong performance comes after the funds also raised more than $100 million on Tuesday; $136 million to be exact.

The Bitcoin news has been flooded with positive inflows from the ETFs for days. This was already the fifth green day in a row. This marks the best run since August 15-26, when eight consecutive days of inflows ended.

BlackRock’s IBIT fund appears to be making a comeback. On Wednesday, the world’s largest asset manager raised almost $100 million after raising just a few million dollars the previous four weeks, and yesterday far surpassed this result with a whopping inflow of $184.4 million.

BlackRock has therefore single-handedly achieved the positive joint result. Bitwise’s BITB fund was the only other to end in positive territory, with inflows of $2.1 million.

Both Fidelity’s FBTC fund and the joint ARKB fund of ARK Invest and 21Shares posted losses yesterday, of $33.2 million and $47.2 million respectively.

Rare performance of ETH funds

Even the Ethereum funds have managed to build on their positive momentum. After Tuesday’s third-best trading day since launch with a combined inflow of $62.5 million, the funds saw $43.2 million in new capital flow in yesterday. This is evident from data from Farside Investors.

This is only the second time since its launch at the end of July that an inflow of tens of millions has been recorded for two consecutive days.

It’s rare, but yesterday Grayscale’s ETH fund, a cheaper alternative to the infamous ETHE fund, managed to take the lead with an impressive inflow of $26.6 million. BlackRock’s ETHA fund followed with an inflow of $9.4 million.