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US spot bitcoin ETFs see inflows worth $92 million; BTC edges down

US spot bitcoin ETFs see inflows worth $92 million; BTC edges down

The BlockThe Block2024/09/21 20:33
By:Danny Park

U.S. spot bitcoin exchange-traded funds (ETFs) recorded total daily net inflows of $92 million on Friday, spread across seven funds.

Spot bitcoin exchange-traded funds in the U.S. recorded net inflows of $92 million on Friday. The funds saw nearly $400 million in net inflows this week.

Friday’s inflows were spread across seven bitcoin ETFs. Fidelity’s FBTC reported $26.12 million inflows, and Ark Invest and 21Shares’ ARKB saw $21.99 million, according to SoSoValue data . Bitwise’s BITB saw positive flows worth $15.08 million, while Grayscale’s Bitcoin Mini Trust had $13.37 million in net inflows.

Bitcoin ETFs from VanEck, Valkyrie and Invesco also recorded smaller amounts of inflows. There were no net outflows on Friday, while five funds, including BlackRock’s IBIT, reported zero flows. 

On Friday, the U.S. bitcoin funds had a total daily trade volume of $980.59 million and accumulated a total net inflow of $17.69 billion since their launch in January.

In related bitcoin ETF news, the U.S. Securities and Exchange Commission approved the listing and trading of options for BlackRock's IBIT. Those options are expected to be listed and traded on the Nasdaq.

Spot ether ETFs reported their second consecutive day of positive total flows worth $2.87 million yesterday, entirely from Grayscale’s Ethereum Mini Trust. The other eight funds saw zero flows on Friday.

The ether funds saw a total daily trade volume of $139.47 million, down from $250.84 million on Thursday. Since launching in July, U.S. Ethereum ETFs have accumulated negative flows of $607.47 million, SoSoValue data shows.

Meanwhile, the price of bitcoin dropped 0.57% in the past 24 hours to trade at $63,116, according to The Block’s bitcoin price page. Ether, on the other hand, grew 0.24% to change hands at $2,551 at the time of writing.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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