The net inflow for Spot Bitcoin ETFs was $186.6 million on September 17, 2024, Eastern Time. This comes at a time when BlackRock did not report any numbers, and neither did Grayscale. Fidelity led the charge with a positive flow of $56.6 million. Bitwise and Ark followed with inflows worth $45.4 million and $42.2 million, respectively.
Others who reported their numbers were Invesco, Franklin, VanEck, and WTree. Their flows were $10.2 million, $8.7 million, $20.5 million, and $3.2 million, all of which were applicable in the same order. Spot Bitcoin ETFs have historically generated a cumulative net inflow of $17.5 billion. The Net Asset Value is $54.84 billion and the Net Asset Ratio is 4.62%.
This marks the fourth successive day of inflows into the segment, as of September 17, 2024. The trend was initiated on September 12, 2024, when it amassed a total of $39 million. It was succeeded by transfers totaling $263.2 million and $12.8 million on subsequent dates.
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It’s not that BlackRock and Grayscale don’t report their numbers. While IBIT’s frequency has decreased to some extent, GBTC is still active in publishing its numbers. Their last record dates back to the previous day, which is September 16, 2024. That is the day when BlackRock hovered around $15.8 million to almost balance the negative flow of Grayscale, which was $20.8 million.
Constant inflows into Spot Bitcoin ETFs come at a time when BTC is attempting to make a breakthrough. The flagship cryptocurrency is teasing new highs. It was last seen exchanging hands at $60,333.04, up by 3.19% in the last 24 hours. It further reflects a rise of 7.30% in the last 7 days and a surge of 3.30% in the last 30 days. Upticks were imminent, with many believing it was only a matter of time for the token to rebound from its lows.
The August crash left the market in bad shape. Several tokens followed the trend that BTC and ETH ended up setting unintentionally. Bitcoin tokens were down to the extent that they were testing crucial support levels—even triggering a series of projections where Bitcoin was seen at $50,000. In recent times, analysts had anticipated a correction in the token price before any announcement from the Federal Reserve.
That said, Spot Ether ETFs are not on the second day of seeing net outflows. As of September 17, 2024, ET, the number stands at $15.1 million, led by Grayscale’s outflow of $17.9 million. The token has increased by 1.105% in the last 24 hours and is exchanging hands at $2,321.09 while the content is being articulated.
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Spot Bitcoin ETFs and Spot Ether ETFs are next expected to welcome a new crypto ETF, which will be a regulated investment vehicle. A tentative timeline is out of sight, but XRP ETF could be the next on the list.
