The recent market performance of spot Bitcoin ETFs (exchange-traded funds) in the United States has been noteworthy, showcasing impressive gains over the past few weeks. With their stellar performance continuing unabated, these crypto investment products concluded the previous trading week with their best single-day results in nearly four months.
The positive investor sentiment surrounding spot ETFs appears to have also invigorated the Bitcoin market and the broader cryptocurrency landscape, which has rebounded effectively from an early price dip in September.
US Bitcoin ETFs Post Nearly $500 Million In A Single Day
On Friday, September 27, the US spot Bitcoin ETF market recorded a total net inflow of $494.27 million, marking the highest value since the $886 million capital influx on June 4. This robust daily performance by crypto-based products followed a net inflow of over $365 million just a day prior.
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According to data from SoSoValue, Ark Invest and 21Shares’ ARKB led the day with an inflow of $203 million, while Fidelity’s FBTC secured second place with a $124 million influx. In a notable resurgence, BlackRock’s IBIT came in third with a net inflow of over $110 million.
Meanwhile, Grayscale Bitcoin Trust (GBTC) experienced a rare positive day, with $26.15 million flowing into the product. This value represents the fund’s highest capital influx since mid-May, highlighting the level of redemption it has faced since the launch of spot Bitcoin ETFs.
As a result of Friday’s performance, the total weekly net inflows for BTC exchange-traded funds soared to an impressive $1.11 billion. This billion-dollar achievement marks the third consecutive week in which US-based spot Bitcoin ETFs have recorded a cumulative weekly net inflow.
Spot Ethereum ETFs Record Second Positive Week Ever
The exceptional performance of Spot Bitcoin ETFs appears to have inspired similar gains for Ethereum ETFs, as ETH funds posted their second positive trading week since launch. Over the past week, Ethereum ETFs registered a cumulative net inflow of more than $84.51 million.
On Friday, the total net inflow of spot Ethereum ETFs was approximately $58.6 million. Data from SoSoValue indicates that Fidelity’s FETH led with a capital influx of $42.5 million, while BlackRock’s ETHA followed in second place with an $11.46 million influx.
In a post on X, ETF expert Nate Geraci mentioned that the BlackRock Ethereum ETF has surpassed the $1 billion mark in terms of assets. Achieving this milestone in just two months, ETHA is now ranked in the top 20% of over 3,700 ETFs in the United States.
The price of Bitcoin has faced challenges, struggling to maintain a position above the $66,000 mark on the daily timeframe.
