or the first time in two weeks, Bitcoin ETFs finally recorded a positive inflow. According to Farside data, there was a $28.6 million uptick, breaking eight straight trading days of outflows. Fidelity's FBTC topped the inflows list with $28.6 million.
This is for the first time since August 26. Undeniably, this adds some much-needed optimism to the market, which is still trying to survive the bearish outlook.
A number of other issuers also recorded positive inflows. Bitwise's BITB had an inflow of $22.0m, while ARK's ARKB and Invesco's BTCO had inflows of $6.8M and $3.1M, respectively. These numbers collectively bring the total Bitcoin ETF inflows to a staggering $16.9 billion.
BlackRock Faces Third Consecutive Outflow
While the entire market was on an uptrend, BlackRock's IBIT recorded flows of -$9.1 million, making this its third week of outflows in recent weeks. The last outflow for BlackRock occurred on August 29 alongside Grayscale's GBTC at $22.8 million outflows.
This is essentially indicative of the mixed feelings of investors. Some are bullish, while others are still quite skeptical, as the performance of different ETFs converged. That is crucial as BlackRock can be described as an elephant standing in the financial markets.
Ethereum ETFs Signal Contrasting Trends
While Bitcoin ETFs show some signs of recuperation, Ethereum ETFs are a whole different story. The sector saw an overall outflow of $5.2 million. Leading these outflows was Grayscale's ETHE at $22.6 million.
That said, not everything was gloomy for Ethereum ETFs. For example, Fidelity's FETH saw an intake of $7.6 million, Bitwise's ETHW had $1.8 million in inflows, and Grayscale's ETH had $8.0 million in inflows. Despite this, the total outflows for Ethereum ETFs have reached $573.7 million, dampening what has already been a complicated picture set before Ethereum investors.
