Inflows of $213 million into Ethereum Exchange-Traded Funds (ETFs) surpass those of Bitcoin ETFs as the market recovers, indicating growing investor interest in the second-largest cryptocurrency.
In the world of cryptocurrency, Exchange-Traded Funds (ETFs) have been experiencing a surge in interest, as evidenced by the substantial inflows recorded in recent weeks.
On September 18, the Bitcoin ETF saw a combined net inflow of $163.03 million, bringing the total trading value to $3.45 million. Bitcoin, the leading cryptocurrency, is trading at $116,879 with a market cap of $2.328 trillion. The total net assets of the Bitcoin ETF now represent 6.62% of the Bitcoin market cap.
Notably, Fidelity's FBTC Bitcoin ETF led with $97.35 million in inflows, followed by Grayscale BTC with $10.93 million. Other notable contributors to Bitcoin ETF inflows include Invesco BTCO with $3.51 million, Bitwise BITB with $12.78 million, and Grayscale ETHE with $9.83 million.
Meanwhile, Ethereum ETFs have also seen a combined net inflow of $213.07 million. The total trading value of Ethereum ETFs reached $1.54 billion, with Ethereum trading at $4,537.16 and a market cap of $547.654 billion. The total net assets of Ethereum ETFs represent 5.49% of the Ethereum market cap.
Fidelity's FETH led the way with $159.38 million in inflows, while Grayscale ETH followed with $22.90 million. Ark & 21Shares ARKB saw $25.00 million in inflows, Franklin EZBC added $6.80 million, and Franklin's EZET made the smallest gain with $3.49 million. Additionally, VanEck HOLD saw $6.65 million in inflows, and Bitwise's ETHW also recorded a gain of $17.47 million.
The growth in cryptocurrency ETFs can be attributed to the increasing interest in digital assets and the strategic investments made by firms like ARK Invest. Since September 18, 2021, ARK Invest has significantly influenced the growth rate of Bitcoin ETFs through investments in crypto-related stocks and ETFs, notably buying millions of dollars in BitMine and Bullish shares within its key ETFs such as ARKK, ARKW, and ARKF.
This surge in cryptocurrency ETF inflows suggests a growing confidence in the digital asset market and could potentially lead to further growth in the future. As always, investors are advised to conduct thorough research and consider their risk tolerance before making any investment decisions.
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