American spot Bitcoin ETFs have just attracted nearly $550 million in two sessions. After $526.6 million on Monday, funds added $23.16 million on Tuesday. The turnaround was rapid: they had lost around 228.6 million the previous week. Meanwhile, Ether ETFs remain in the red with $129.41 million in outflows since Monday.
In brief
- Bitcoin ETFs attracted $549.76 million in two days.
- BlackRock’s IBIT captured another 29.86 million on Tuesday.
- Ether ETFs lost 129.41 million over the same two sessions.
Bitcoin recovers $550 million in two sessions
Monday did almost all the work. US Bitcoin ETFs attracted $526.6 million on October 19. BlackRock’s IBIT alone received $665.16 million, offsetting withdrawals from Fidelity and Grayscale.
On Tuesday, the movement slowed down significantly. Net inflows no longer exceed $23.16 million. The results nevertheless remain positive for a second consecutive session. In total: $549.76 million in two days. IBIT attracted another 29.86 million on Tuesday. Fidelity’s FBTC adds 3.58 million, while Bitwise’s BITB loses 10.29 million.
The other products remain in balance. Bitcoin ETF trading value reached $1.92 billion on Tuesday. Their net assets now stand at $106.28 billion, or approximately 6.38% of BTC capitalization. The rebound comes after several difficult sessions.
Two weeks of releases almost erased
Last week, Bitcoin ETFs saw approximately $228.6 million in net withdrawals. A week earlier, the bill was even heavier. In total, Bitcoin ETFs had lost around $910 million in two weeks, following a sharp reversal in institutional flows earlier this month.
The 549.76 million recovered Monday and Tuesday therefore erase more than double the withdrawals of the previous week. However, the change remains very concentrated. On Monday, IBIT received $665.16 million while Fidelity lost $83.6 million and Grayscale lost $54.9 million. Tuesday, BlackRock still remains the main driver with its 29.86 million.
Two positive sessions are therefore not yet enough to establish a new lasting trend. Bitcoin ETFs have already shown this year that capital can flow in and out very quickly. By early October, Bitcoin and Ether had lost nearly $1 billion through their ETFs in just two days. This time, Bitcoin is recovering some of the lost ground. Ether much less.
Ether ETFs remain in the red
Ethereum funds are following an opposite trajectory. Tuesday, Ether ETFs recorded $26.13 million of net outflows, their fifth consecutive session in the red. BlackRock represents the bulk of the withdrawals with $33.02 million taken out of ETHA. Fidelity nevertheless attracts 3.63 million dollars on FETH. The Grayscale Ethereum Mini Trust also adds 3.25 million.
This is not enough. Monday had already cost Ether funds $103.28 million. The cumulative balance of the first two sessions of the week thus reached 129.41 million dollars in outflows.
The net assets of Ether ETFs stand at $14.98 billion, compared to more than $106 billion for those devoted to Bitcoin. The contrast is therefore quite clear: at the same time, 550 million dollars returned to Bitcoin while more than 129 million left Ether. There are still three sessions left in the week. For now, investors returning to crypto ETFs are clearly favoring Bitcoin.
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