Bitcoin ETFs Thrive with Massive Inflows; BlackRock's IBIT Dominates Market

US Spot bitcoin ETFs Continue Positive Trend, BlackRock's IBIT Dominates Inflows US-listed spot bitcoin ETFs are on a winning streak, with $106 million in inflows recorded on Wednesday. Leading the charge is BlackRock's iShares bitcoin Trust (IBIT), which attracted a substantial $184 million in net investments, as per data from Farside Investors. Bitwise's bitcoin ETF (BITB) also saw an uptick with an additional $2 million inflow. However, not all funds experienced the same momentum. Fidelity's FBTC and the ARK Invest/21Shares bitcoin ETF (ARKB) reported significant outflows of about $33 million and $47 million, respectively. Notably, the Grayscale bitcoin Trust (GBTC) did not receive any inflows. Since transitioning to an ETF, GBTC has witnessed a staggering $20 billion in investor withdrawals. Despite the initial outflows, recent weeks have shown a decline in negative movements. The capital flow has shifted toward other funds, especially BlackRock's IBIT, resulting in a collective net inflow of approximately $246 million across US spot bitcoin ETFs. This trend underscores sustained investor interest in the cryptocurrency asset class. Meanwhile, ethereum spot ETFs listed in the US also enjoyed a positive day on Thursday, raking in a net inflow of $43.23 million. This surge comes amidst a cumulative outflow of $580.94 million over the past week, indicating a growing attraction towards ethereum-based exchange-traded products. Data from SoSoValue revealed that Grayscale's ethereum ETF (ETHE) led the charge with a minor daily inflow, despite a total outflow of $2.85 billion to date. BlackRock's ethereum ETF (ETHA) followed closely, securing $9.38 million in investments on Monday. Fidelity's FETH also performed well, amassing $6.45 million in fresh funds. On the contrary, VanEck's ETHV and Franklin's EZET ETFs saw no net inflows. The total value traded across ethereum ETFs reached $124.18 million, with total net assets now standing at $7.03 billion, representing 2.26% of ethereum's market capitalization. In a significant development, the US Securities and Exchange Commission (SEC) has decided to postpone its ruling on Nasdaq's proposal to list and trade options on BlackRock's iShares ethereum Trust (ETHA). Initially scheduled for September 26, the SEC has extended the decision date to November 10 to assess potential market ramifications. Not uncommon in regulatory matters, the SEC utilizes its authority under Section 19(b)(2) of the Securities Exchange Act to extend review timelines by up to 90 days for a thorough evaluation of risks and benefits. This move follows the SEC's recent approval of options trading for BlackRock's iShares bitcoin Trust (IBIT) after addressing concerns related to market manipulation and excessive risk-taking. Moreover, the SEC has also delayed a decision on NYSE American LLC's separate proposal, indicating a cautious approach to approving ETF options.