The US spot ETF market had a positive day on September 20, as both Bitcoin and Ethereum exchange-traded funds received inflows. According to Spot On Chain, a well-known on-chain analytics firm, Bitcoin ETFs saw a net inflow of $92 million, while Ethereum ETFs received $2.9 million without any outflows. The analytics provider discussed the current state of the crypto ETF sector on social media.
On September 20, Bitcoin ETFs received a significant inflow of $99 million, as reported by Spot On Chain. Out of the 11 Bitcoin ETFs, seven saw inflows, while the remaining four did not see any flows. Fidelity ($FBTC) led in terms of individual inflows, adding $26.1 million. Additionally, ARK 21Shares ($ARKB) received $22 million, Bitwise ($BITB) saw inflows of $15.1 million, Grayscale Mini ($BTC) had $13.4 million, and VanEck ($HODL) recorded $7.1 million in inflows. Valkyrie ($BRRR) received $5.2 million in net inflows, while Invesco ($BTCO) had the lowest inflows at $3.1 million. With these inflows, the total weekly inflows for Bitcoin ETFs reached a staggering $397 million, covering four out of five trading days during the week.
On the other hand, Ethereum ETFs had lower inflows. The cumulative inflows for Ethereum ETFs on September 21 were just $2.9 million. Only one out of the nine Ethereum ETFs recorded inflows, with Grayscale Mini ($ETH) receiving $2.9 million. None of the other ETFs saw any flows. In terms of outflows, Ethereum ETFs experienced a challenging week, with a total of $26.2 million leaving the ETFs. Only two out of the five trading days witnessed inflows, indicating cautious investor behavior.
Overall, the significant inflows in Bitcoin ETFs demonstrate strong investor interest in the leading cryptocurrency asset. However, despite Ethereum’s presence in the DeFi sector and its growing adoption, the recent outflows could be attributed to market competition and increased regulatory scrutiny.