ETFs tracking spot Bitcoin and Ethereum listed in the US attracted over $1 billion in net inflows on September 29, indicating a resurgence in investor confidence following a period of significant outflows.
The turnaround coincided with an overall improvement in sentiment across the crypto market, as prices experienced a notable rebound.
Bitcoin and Ethereum ETF Inflows
Data from SoSoValue revealed that Bitcoin ETFs received $521.95 million in inflows, with Fidelity’s FBTC leading the way by attracting $298.70 million, accounting for more than half of the total net inflows for the day.
Other notable contributors included Ark 21Shares’ ARKB with $62.18 million in inflows, as well as Grayscale’s BTC and Bitwise’s BITB each bringing in around $47 million, and Invesco’s BTCO receiving $35.34 million in fresh capital.
VanEck’s HODL saw $30.66 million in inflows, while Grayscale’s GBTC added $26.91 million. Franklin Templeton’s EZBC received $16.51 million in inflows, and Valkyrie’s BRRR attracted $4.03 million.
However, BlackRock’s IBIT, the primary Bitcoin ETF, experienced outflows of $46.64 million, marking its third consecutive day of withdrawals in September.
On the Ethereum side, ETFs saw even greater inflows totaling $546.96 million on the day. Fidelity’s FETH led the pack with $202.18 million, followed by BlackRock’s ETHA at $154.20 million.
Grayscale’s ETH and ETHE received $99.84 million and $22.77 million, respectively, while Bitwise’s ETHW attracted $36.52 million in inflows.
Crypto Market Rebound
The inflows aligned with a significant recovery in asset prices, underscoring the sensitivity of institutional demand to market signals.
BRN’s head of research, Timothy Misir, noted that Bitcoin surged back to $114,000, undoing much of the losses from the previous week and forming a pronounced V-shaped recovery.
Misir highlighted that BTC investors defended the $110,000 to $111,000 range consistently, establishing a series of higher lows that reinforced bullish sentiment.
He mentioned that resistance is expected between $115,000 and $116,300, with a likely consolidation in that range before any further upward momentum. However, Misir emphasized that as long as Bitcoin remains above $109,000, the overall momentum remains positive.
