Crypto ETFs Attract $620M as Bitcoin and Ether Inflows Surge

With the U.S. Federal Reserve set to deliberate on a possible rate cut, appetite for risk assets is building. In fact, investors have poured over $600 million into crypto-focused exchange-traded funds (ETFs) in the past seven days. Capital rotation into Ethereum ETFs has also resumed, following periods of exits.

Crypto ETFs Kick Off Week With Strong Inflows as Bitcoin ETFs Extend Winning Streak

Crypto ETFs resumed the week with positive momentum, raking in a combined $620 million in investments, as these products continue to catch the eyes of institutional investors. Bitcoin ETFs stretched their inflow streak to a sixth consecutive day with $260 million on Monday, underscoring the increased risk appetite among market participants. 

Unsurprisingly, BlackRock’s IBIT saw the most investments, attracting a massive $261.82 million in capital. In second place, Fidelity’s FBTC contributed $7.54 million, while Grayscale’s Bitcoin Mini Trust followed closely with about $6.13 million in inflows.

Franklin’s EZBC also drew $3.34 million in investments, while Bitwise’s BITB offset the overall daily inflows with $18.81 million worth of exits. Meanwhile, other BTC financial vehicles, including Grayscale Bitcoin Trust (GBTC) and VanEck Bitcoin ETF (HODL), posted zero flows on the day.

Even so, momentum remained strong, with total value traded touching $3.03 billion and net assets pegged at $151.72 billion.

Ether ETFs See Five-Day Inflow Streak as Institutional Confidence Builds Ahead of Q4

After beginning the month with capital exits, Ether ETFs have flipped the trend with five consecutive days of inflows—capping off the Monday trading session with $359.73 million. BlackRock’s ETHA carried the weight of this impressive outing with a notable $363.19 million. Grayscale’s ETHE also boosted the inflow score by another $10 million.

However, Fidelity’s FETH posted a negative flow of $13.46 million, breaking the positive inflow trend of other investment products.

At the time of writing, Bitcoin is exchanging hands at $116,880, following a modest intraday uptrend. Ether, on the other hand, traded relatively flat over the past day, sitting at $4,495, as per market data.

With crypto ETFs riding strong bullish narratives, confidence appears to have deepened regarding these investment products. Should the positive rate cut predictions hold, market commentators believe that the demand for exchange-traded products could further surge, setting the tone for a strong Q4.