Over $200 Million Pour into Bitcoin ETFs While Ethereum ETFs See $47.8 Million in Inflows

The cryptocurrency market is witnessing substantial inflows into spot Exchange-Traded Funds (ETFs) for both Bitcoin (BTC) and Ethereum (ETH), underpinned by institutional interest and the pervasive influence of BlackRock. Over two consecutive days, strong inflows have highlighted growing investor confidence, with Bitcoin ETFs attracting over $200 million, while Ethereum ETFs reported $47.8 million in contributions in a single day.

Bitcoin ETFs Witness Robust Inflows

Spot Bitcoin ETFs experienced significant momentum, bolstered by the U.S. Federal Reserve’s latest interest rate decision. Data from Faside Investors on October 19 revealed that Bitcoin ETFs pulled in a combined net inflow of $222.6 million, a 1.34x increase from the prior day’s $163 million inflow. This comes after the Federal Reserve’s policy initially triggered a broader $500 million outflow from digital asset funds, which subsequently reversed.

Notable Bitcoin ETF Movements

Among the Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) emerged as a key catalyst, contributing an impressive $246.1 million of the total inflows. This surge underscores BlackRock’s dominant presence in the cryptocurrency investment landscape.

In contrast, the Grayscale Bitcoin Trust (GBTC) saw a net outflow of $23.5 million, signaling a shift in investor preference. Meanwhile, nine other Bitcoin ETFs demonstrated neutral activity, with no net inflows or outflows recorded during the period.

Ethereum ETFs Experience Modest But Significant Growth

The Ethereum ETF market also showcased notable activity, although the scale of inflows moderated compared to prior days. On October 19, total net inflows into Ethereum ETFs reached $47.8 million. This was a decline from the previous day’s $213.1 million, but still indicative of considerable investor interest.

Key Ethereum ETF Performers

BlackRock once again led the charge, with its iShares Ethereum Trust (ETHA) absorbing $144.3 million of the inflows. This clear leadership points to institutional confidence in BlackRock’s suite of products.

However, several ETFs reported net outflows, reflecting a mixed sentiment across the Ethereum ETF landscape:

• Fidelity’s FETH saw a significant $53.4 million in redemptions.
• Bitwise’s ETHW logged $70,000 in outflows.
• 21Shares’ TETH posted $60,000 in withdrawals.
• VanEck’s ETHV experienced $82,000 in redemptions.
• Invesco’s QETH lost $44,000 in net capital.
• Grayscale’s ETHE and ETH products witnessed $62,000 and $113,000 in outflows, respectively.
• Franklin Templeton’s EZET remained neutral, showing no inflows or outflows.

Federal Reserve Policy and Market Dynamics

A broader macroeconomic backdrop continues to shape investor sentiment. Following the Federal Open Market Committee’s (FOMC) meeting in September, the Federal Reserve enacted a modest interest rate reduction of 0.25 percentage points, marking its first decrease in nine months. Despite this dovish monetary policy stance, major digital assets, including Bitcoin and Ethereum, have struggled to sustain price momentum, even amid continued ETF inflows.

The subdued price performance suggests that while ETFs garner institutional interest, macroeconomic uncertainties are tempering broader enthusiasm in the cryptocurrency market.

Current Market Performance

As of 2:10 p.m. on October 19, data from CoinMarketCap showed Bitcoin trading at $11,457.00, reflecting a 0.92% decline in value. Ethereum exhibited a sharper drop, falling 3.83% to $4,301.00.

While the inflow into cryptocurrency ETFs continues, the moderation in daily activity signals a cautious optimism among investors. As the market navigates the interplay between institutional adoption and macroeconomic developments, the growing ETF inflows remain a significant indicator of sustained interest in digital assets as an investment vehicle.