Bitcoin ETFs Soar While Ethereum ETFs Struggle in Bearish Market

How Are Bitcoin ETFs Doing? Are They Still Alive? Turns out, Bitcoin ETFs are not just alive; they're thriving like mushrooms after a rainstorm! Twelve spot Bitcoin ETFs recorded a net inflow of $186.76 million, a 1360% increase compared to the previous day’s modest $12.9 million. 

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Leading the pack was Fidelity’s FBTC, which soaked up $56.6 million in fresh funds. In fact, this ETF has been on a winning streak for seven consecutive days, accumulating a total of $279.7 million. 

Close behind were Bitwise’s BITB and 21Shares’ ARKB, raking in $45.4 million and $42.2 million respectively. Not to be outdone, VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC welcomed $20.5 million, $10.2 million, and $8.7 million each.

WisdomTree’s BTCW had a modest day with a $3.2 million inflow—its first since August 27. Meanwhile, the other five Bitcoin ETFs, including BlackRock’s IBIT, took the day off from trading activity. 

Overall, trading volumes for the 12 Bitcoin ETFs skyrocketed to $2.27 billion on September 17, with total net inflows hitting $17.5 billion since their inception. 

So, as you can see, Bitcoin ETFs are doing just fine! But if you’re wondering about Ethereum ETFs, well, that’s a whole different story.

What’s Up with ETH ETFs?

While Bitcoin ETFs are out there popping bottles, Ethereum ETFs are having, well... a bit of a rough patch. According to SoSoValue, on September 17, nine U.S. spot Ethereum ETFs saw a net outflow of $15.11 million, marking the second day in a row of cash fleeing the scene. Most of the exodus, $17.9 million to be exact, came from Grayscale’s ETHE. Ouch.

Since their July launch, Ether ETFs have faced significant challenges. In just two months, they’ve bled over $600 million, and according to Farside Investors, only about a third of their 38 trading days have seen positive net inflows. Most of that bleeding has come from Grayscale’s Ethereum Trust, with other ETFs not exactly setting the world on fire either.

In defense of Ether ETFs, Bobby Zagotta, head at Bitstamp U.S., pointed out they hit the market at a "rough time" for risk assets. He believes that if Ether ETFs had launched back in January, alongside Bitcoin ETFs, the story might have been different.

“I think they’ve underperformed, but I chalk that up to the timing,” Zagotta said at TOKEN2049. “They came out during what you might call a tough moment, or generally bad market conditions for risk assets.”

He added:

Right now, people are waiting. There’s election uncertainty, regulatory noise in the U.S., and some socio-political issues — so everything’s kinda on pause.

Zagotta doesn`t think it’s all doom and gloom. “I personally think we’re nearing a moment of clarity — elections, interest rates, hopefully some regulatory momentum in the U.S.,” he added. He’s eyeing Q4 as a potential "active market" and remains cautiously optimistic that we could see some "real price action," especially in the altcoin space.

The conclusion? If Ether ETFs had launched alongside their Bitcoin cousins, they might have had a better shot at success. Right now, they’re just victims of bad timing.

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