BlackRock Stands Strong Amidst $49.2 Million Bitcoin ETF Outflows – What's Next for Ethereum?

On October 8, 2024, Bitcoin ETFs experienced net outflows totaling $18.6 million. Notably, Fidelity’s FBTC ETF led the declines with $48.8 million in outflows, while Grayscale’s GBTC ETF recorded a smaller outflow of $9.4 million. In contrast, BlackRock’s IBIT ETF was the only fund attracting inflows, adding $39.6 million. Other major ETFs, including those from Ark, Bitwise, Invesco, Franklin, Valkyrie, VanEck, and WisdomTree, saw no significant activity.

On October 9, the trend continued with total net losses reaching $30.6 million. The ARKB ETF led the day's outflows, losing $44.5 million, while BlackRock’s IBIT ETF recorded a modest inflow of $13.9 million. Meanwhile, no inflows or outflows were reported for Fidelity’s FBTC or other major ETFs, indicating a quiet day across the Bitcoin ETF market.

Bitcoin ETF Outflows Overview

| ETF Provider | IBIT | FBTC | BITB | ARKB | BTCO | EZBC | BRRR | HODL | BTCW | GBTC | BTC | Total (Bitcoin) | |----------------------|--------|----------|------|--------|------|------|------|------|------|-------|-------|-----------------| | Bitcoin ETFs (Oct. 8)| 39.6 | (48.8) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (9.4) | 0.0 | (18.6) | | Bitcoin ETFs (Oct. 9)| 13.9 | 0.0 | – | (44.5) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (30.6) |

In the Ethereum ETF market, October 8 saw a total outflow of $8.1 million, primarily due to Fidelity’s FETH ETF losing $3.6 million and Bitwise’s ETHW ETF losing $4.5 million. Other Ethereum ETFs, including those from BlackRock, 21Shares, VanEck, Invesco, Franklin, and Grayscale, reported no inflows or outflows.

On October 9, Ethereum ETFs remained static, with no reported activity across all funds, signaling a pause in investor activity after the previous day's outflows.

Ethereum ETF Outflows Overview

| ETF Provider | ETHA | FETH | ETHW | CETH | ETHV | QETH | EZET | ETHE | ETH | Total (Ethereum) | |----------------------|------|------|------|------|------|------|------|------|------|------------------| | Ethereum ETFs (Oct. 8)| 0.0 | (3.6)| (4.5)| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (8.1) | | Ethereum ETFs (Oct. 9)| 0.0 | 0.0 | – | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |

The ongoing outflows in Bitcoin ETFs, particularly from Ark and Fidelity, reflect investor caution. BlackRock’s IBIT ETF remains one of the few funds consistently attracting inflows. Meanwhile, Ethereum ETFs have shown limited activity, with modest outflows on October 8 and no significant movement on October 9, indicating a broader market consolidation as investors reassess their positions across Bitcoin and Ethereum assets.