The Exchange Traded Funds (ETFs) landscape saw mostly inflows last week, from April 20 to April 24.
Starting with the Spot Bitcoin [BTC] ETF, which started the week strong, recorded inflows of $238.4 million on April 20. On the day, BlackRock’s IBIT recorded maximum inflows worth $256 million, while Grayscale’s GBTC recorded outflows worth $24.9 million.
Performance analysis of Bitcoin ETFs
On April 21, Spot BTC ETFs recorded minimum inflows worth $11.8 million. Although IBIT recorded inflows worth $39.3 million, outflows from Fidelity’s FBTC, Bitwise’s BITB, Ark Invest’s ARKB, VanEck’s HODL and Grayscale’s GBTC were enough to reject IBIT’s inflows.
However, on April 22, cumulative BTC ETFs saw inflows worth $335.8 million, with, as expected, IBIT recording maximum inflows worth $246.9 million.
On April 23, the BTC ETF saw inflows worth $223.3 million. And yet GBTC saw zero flows that day.
However, by the end of the week, inflows had weakened as the BTC ETF recorded inflows worth $14.4 million. On this day, most asset managers had seen zero flows.
Did the Spot Ethereum ETF Reflect the Same Pattern?
Discover Ethereum [ETH] ETFs followed almost a similar trend to that of the BTC ETFs. On April 20, ETH ETFs saw inflows worth $67.8 million, while BlackRock’s ETHA recorded $76.1 million. On the contrary, Grayscale’s ETHE saw outflows worth $17.1 million.
Subsequently, on April 21, there was less inflow than the day before, as an inflow worth $43.3 million was recorded. Once again, ETHA recorded the highest inflows, followed by Fidelity’s FETH.
Further afield, the ETH ETF saw the highest inflows of the week on April 22, worth $96.4 million, with ETHA and FETH being the biggest gainers.
However, the momentum changed on April 23 when the ETH ETF recorded an outflow worth $75.9 million, with FETH recording the maximum outflow worth $51.3 million. By the end of the week, inflows had returned, with the ETH ETF seeing inflows worth $23.4 million.
What about other altcoin ETFs?
Solana [SOL] ETF, in turn, experienced very minimal inflows on all days of the week.
On April 20, the SOL ETF saw inflows worth $3.1 million. However, on April 21 and 22, the SOL ETF had no flows. Interestingly, the recorded inflows were $7.3 million on April 23, but this momentum was short-lived.
As of April 24, the SOL ETF saw outflows worth $1.1 million. XRP ETFs, on the other hand, mainly saw inflows, with only April 21 recording zero inflows.
All this happened the same week when GSR, the cryptocurrency capital market, introduced its first ETF. The GSR Crypto Core3 ETF, under the ticker BESO, recorded trading volume of almost $5 million on day one.
Final summary
- All Bitcoin, Ethereum, Solana and XRP ETFs largely recorded inflows over the past week.
- However, Bitcoin ETFs saw maximum inflows last week, compared to XRP ETFs and Solana ETFs.