Bitcoin ETF Breakdown: BlackRock, Fidelity Lead $627M Inflows

On October 2, both the US spot ETFs marked their fourth consecutive day of ETF inflows. Bitcoin ETFs saw a huge influx of $627.24 million, while Ethereum ETFs recorded 307.05 million in inflows, as per SoSoValue data. 

Bitcoin ETF Breakdown

Bitcoin ETFs posted a combined $627.24 million in inflows. The largest addition was made by BlackRock IBIT of $466.55 million, followed by the other six ETFs in much smaller amounts. 

Fidelity FBTC added $89.62 million, followed by Ark & 21Shares ARKB’s $45.18 million, and Bitwise BITB $11.17 million. The smallest gains of the day were reported by Grayscale BTC $10.17 million, Grayscale GBTC $2.85 million, and VanEck HODL’s 1.71 million. 

The total trading value in Bitcoin ETFs reached $5.59 billion, with net assets surging to $161.03 billion. This marks 6.70% of the Bitcoin market cap. 

Ethereum ETF Breakdown

Ethereum ETFs recorded $307.05 million in inflows, with BlackRock’s ETHA leading at $177.11 million. Fidelity FETH followed with $60.71 million, while Bitwise ETHW and Grayscale ETH added $46.47 million and $12.71 million, respectively. 

Additional gains were made by Grayscale ETHE $4.07 million, VanEck ETHV $3.30 million, and 21Shares TETH $2.70 million. Seven out of nine ETFs reported inflows, signalling a strong market sentiment. 

The overall trading value in Ethereum ETFs reached $2.24 billion with total net assets $30.19 billion, representing 5.57% of the Ethereum market cap. 

Market Context

Bitcoin is trading around $119,991, with its market cap hitting $2.39 trillion, showing strong momentum. Daily trading volume has also picked up, reaching $64.5 billion. Ethereum is moving steadily too, now at $4,482, with a market cap of $540.8 billion and $42.3 billion in 24-hour trading.

Analysts say both coins are showing clear bullish signs. Citigroup has updated its forecasts, expecting Bitcoin to end the year near $132,000 and Ethereum at $4,500. Over the next 12 months, the bank sees Bitcoin potentially reaching $181,000 and Ethereum $5,400.