
total trading volume in bitcoin ETF reached $4.24 billion, with total net assets of $152.45 billion
BTC daily trading volume has reached $60.878 billion despite the fed rate cut
The total trading volumein Ethereum ETF surged from $1.70 billion to $2.34 billion, with total net assets of $29.72 billion.
On September 17, spot Bitcoin ETF saw a total outflow of $51 million, marking the first net outflow after seven consecutive days of inflows. Spot Ethereum ETFs recorded a total outflow of $1.89 million, continuing the second successive day of outflow, as reported by SoSoValue.
Bitcoin ETF Breakdown
After seven days of recording strong inflows, Bitcoin ETF experienced a total outflow of $51.28 million on Wednesday. Fidelity FBTC led with $116.03 million, followed by Grayscale GBTC $62.64 million. Ark & 21Shares ARKB also withdrew $32.29 million, while Bitwise BITB recorded $12.58 million outflow.
Only two ETFs made gains (inflows): BlackRock IBIT $149.73 million and Grayscale BTC $22.54 million. Overall, the total trading volume in bitcoin ETF reached $4.24 billion, with total net assets of $152.45 billion. This marks 6.62% of the Bitcoin market cap, slightly higher than the previous day despite the outflows.
Ethereum ETF Breakdown
Ethereum ETFs recorded a total net outflow of $1.89 million, with Fidelity’s FETH leading the withdrawals at $29.19 million. Bitwise ETHW also recorded $9.67 million of outflows. Besides this, some ETFs saw gains as well. BlackRock ETHA added $25.86 million, followed by Grayscale ETH $6.38 million.
Invesco QETH and 21Shares also recorded smaller inflows of $2.70 million and $2.02 million, respectively. The total trading volume surged from $1.70 billion to $2.34 billion, with total net assets of $29.72 billion. This marks 5.47% of Ethereum’s market cap, showing a small rise from the previous day.
Market Context
Bitcoin is trading at $117,326 with a market cap of $2.337 trillion, showing an impressive surge. Its daily trading volume has reached $60.878 billion, climbing more than $20 billion in a day. Ethereum trades at $4,588.55, with a market cap of $554.232 billion. Its trading volume has also jumped to $44.462 billion, reflecting renewed confidence in investors.
While some experts feared that cryptocurrency would fail to thrive amid the Fed rate cut, it still grew. Despite the tension, Bitcoin showed an increase of 0.9% in 24 hours, and Ethereum boosted its trading volume.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
Bitcoin ETFs saw outflows as investors took profits after high inflows, reflecting daily market shifts rather than negative sentiment.
Ethereum ETFs also saw outflows, but the amounts were much smaller. Some funds, like BlackRock ETHA, still posted notable inflows.
Bitcoin ETFs now account for 6.62% of Bitcoin’s market cap, while Ethereum ETFs represent 5.47% of Ethereum’s market cap.
Despite some concerns, the Fed rate cut led to increased crypto volumes and price gains for both Bitcoin and Ethereum.