The post Crypto ETF Report: Ethereum ETFs Top Bitcoin with $246 Million Inflows appeared first on Coinpedia Fintech News
On October 28, both crypto ETFs, Bitcoin and Ethereum, recorded gains. Bitcoin ETFs saw a combined inflow of $202.48 million, with Arl & 21Shares ARKB leading the session. Meanwhile, Ethereum $246.02 million, surpassing Bitcoin.
Bitcoin ETF Breakdown
According to data from SoSoValue, Bitcoin ETFs recorded $202.48 million in inflows, with only three ETFs posting gains. Ark & 21Shares ARKB and Fidelity FBTC reported $75.84 million and $67.05 million, respectively.
BlackRock IBIT posted the smallest gains for the day with $59.60 million in inflows. Neither of the funds posted any outflows on Tuesday. The total trading value reached $4.18 billion with net assets of $154.81 billion. This represents 6.88% of the Bitcoin market cap.
Ethereum ETF Breakdown
Ethereum saw a total net inflow of $246.02 million, with Fidelity FETH leading at $99.27 million. Two other funds reported ETF gains, BlackRock ETHA of $76.37 million and Grayscale ETH of $73.03 million.
Grayscale ETHE was the only fund to post ETF withdrawals for the day, with $2.66 million in outflows. The total trading volume reached $1.64 billion with net assets at $27.66 billion. This marks 5.76% of the Ethereum market cap.
Market Context
Bitcoin is trading at $112,701, down 1.06% from yesterday, but its daily trading volume has jumped nearly 12% to $64.8 billion. The market cap stands at $2.24 trillion as of Wednesday.
Ethereum is priced at $4,010, slipping 2.15% in the past 24 hours. Its trading volume is $37.8 billion, with a market cap of about $484.8 billion.
Despite the slight dip, both Bitcoin and Ethereum continue to recover from October’s crypto crash.