Spot Bitcoin ETFs in US draw in $39 million in inflows

Spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) in the U.S. reported daily net inflows of $39.02 million on Thursday, following a day of negative flows. 

According to data from SoSoValue, the largest inflow came from Ark and 21Shares’ ARKB fund, which saw $18.34 million move in. 

Fidelity’s FBTC recorded net inflows of $11.47 million, while Grayscale’s Bitcoin Mini Trust added $5.18 million. 

Smaller inflows were reported by VanEck’s HODL (CRYPTO:HODL) with $4.95 million and Franklin Templeton’s Bitcoin fund with $3.38 million. 

Bitwise’s BITB also experienced positive flows of $2.22 million.

Conversely, Grayscale's GBTC was the only spot Bitcoin ETF to see outflows, with $6.51 million exiting the fund. 

The other five Bitcoin ETFs, including BlackRock’s IBIT, recorded zero flows on Thursday. 

IBIT, the largest spot Bitcoin ETF by net assets, has not had net inflows since August 27.

The combined daily trading volume for the 12 Bitcoin ETFs was lower on Thursday, reaching $896.92 million, compared to $1.27 billion the previous day. 

Since launching in January, these Bitcoin funds have accumulated a total of $17.03 billion in net inflows.

Meanwhile, spot Ethereum (CRYPTO:ETH) ETFs in the U.S. saw net outflows of $20.14 million on Thursday, marking the second consecutive day of net outflows. 

All of the outflows were from Grayscale’s ETHE, while the other eight Ether funds had no movement.

The daily trading volume for Ether ETFs was $106.14 million on Thursday, down from $126.22 million the day before. 

The cumulative net outflows for these funds stood at $582.74 million.

Last week, Bitcoin fell below $53,000 following weak non-farm payroll data from the U.S., but has since recovered due to the election debate between Kamala Harris and Donald Trump and the release of consumer price data.

Investors are now looking ahead to the upcoming Federal Open Market Committee meeting. 

The CME Group’s FedWatch Tool indicates a 57% chance that the Fed will lower rates by 25 basis points and a 43% chance of a 50 basis-point cut.

At the time of reporting, the Bitcoin (BTC) price was $57,893.73.