The U.S. spot ETF market remained active on September 20, with both Bitcoin and Ethereum exchange-traded funds (ETFs) experiencing net inflows. According to data from Spot On Chain, a leading on-chain analytics firm, Bitcoin ETFs recorded an impressive $92 million in net inflows, while Ethereum ETFs brought in $2.9 million. Notably, Ethereum ETFs did not report any outflows, even though overall inflows were relatively small.
Bitcoin ETFs Lead with $99 Million Inflows
In a recent social media post, Spot On Chain highlighted the remarkable inflow of $99 million into Bitcoin ETFs. Out of 11 Bitcoin ETFs, seven reported significant inflows, with no outflows from the remaining four. Leading the charge was Fidelity’s ETF ($FBTC), which added $26.1 million. Other key players included ARK 21Shares ($ARKB) with $22 million and Bitwise ($BITB) with $15.1 million.
Grayscale Mini ($BTC) added $13.4 million, while VanEck ($HODL) recorded $7.1 million. Valkyrie ($BRRR) saw $5.2 million in net inflows, and Invesco ($BTCO) brought in $3.1 million. This surge pushed the total weekly inflows of Bitcoin ETFs to an impressive $397 million, representing four of the five trading days during the week.
Ethereum ETFs Lag Behind with Modest Inflows
On the Ethereum side, the situation was less favorable. Ethereum ETFs saw a cumulative inflow of just $2.9 million on September 21. Only one of nine Ethereum ETFs, Grayscale Mini ($ETH), recorded inflows, while the others remained flat.
Over the past week, Ethereum ETFs experienced $26.2 million in outflows. Only two of the five trading days saw positive inflows, reflecting a more cautious approach from investors. Despite Ethereum’s strong presence in the DeFi sector, recent outflows could be linked to increasing market competition and tighter regulatory scrutiny.
Conclusion: Bitcoin Shows Strong Investor Confidence
The substantial inflows into Bitcoin ETFs highlight strong investor confidence in the leading cryptocurrency, while Ethereum ETFs have seen more muted activity. Although Ethereum continues to dominate the DeFi space, market conditions and regulatory concerns may be influencing investor sentiment.
