Bitcoin spot exchange-traded funds (ETFs) in the United States have shown impressive performance, marking a combined net inflow of $260.02 million on September 15. This notable increase extends the inflow streak to six consecutive days, signaling a renewed interest from institutional investors in the cryptocurrency space.
Leading the charge is BlackRock’s iShares Bitcoin Trust (IBIT), which recorded a stunning $261.82 million in daily net inflows. This remarkable performance has pushed its total historical inflows to $60.04 billion, establishing it as the most influential player in the market. Following closely is Fidelity’s FBTC, which added $7.54 million to its cumulative inflows, bringing the total to $12.63 billion. Meanwhile, Bitwise’s BITB faced challenges, with the largest outflow of the day at $18.81 million, although its overall net inflows remain at $2.33 billion.
The robust inflows contributed to a total net asset value for Bitcoin spot ETFs of $151.72 billion, translating to 6.6% of the total Bitcoin market capitalization. Cumulative inflows for Bitcoin products reached $57.09 billion, with daily trading activity recording approximately $3.03 billion on that day.
The positive momentum for Bitcoin ETFs was evident earlier that week as well. On September 12, Bitcoin ETFs attracted a staggering $552.78 million, predominantly fueled by IBIT’s influx of $366.2 million and Fidelity’s FBTC with $134.7 million. This uptick capped off four days of consecutive positive flows, totaling $1.7 billion, reversing previous trends that saw the sector experience its first weekly outflows since June.
Ethereum ETFs have also demonstrated renewed vigor, with BlackRock’s ETHA seeing its strongest inflow of the month on September 15, garnering $363.19 million worth of Ether, equivalent to 80,768 ETH. This one-day gain pushed ETHA’s total assets to $17.09 billion, accompanied by a daily trading volume of $1.5 billion. This marks a stark recovery from the over $787 million in outflows observed earlier in the month. Grayscale’s ETHE managed to attract an additional $10 million, while Fidelity’s FETH recorded $13.46 million in outflows. Despite this volatility, cumulative inflows across all Ethereum ETFs now total $13.72 billion, with assets under management reaching $30.35 billion.
The overall turnaround reflects a substantial resurgence in crypto investment products, with digital asset funds attracting $3.3 billion in inflows last week—the highest since July. Bitcoin led this resurgence with $2.4 billion in inflows, while Ethereum broke a streak of eight consecutive days of outflows to post $646 million in net inflows over just four days.
In developments within the regulatory landscape, the U.S. Securities and Exchange Commission (SEC) is currently reviewing a noteworthy 92 cryptocurrency ETF applications, according to Bloomberg Intelligence analyst James Seyffart. This figure marks a significant increase from 72 applications in April, underscoring a growing trend among asset managers to develop regulated access to digital assets.
The majority of these new applications face October deadlines, focusing on altcoins like Solana, XRP, and Litecoin. Solana leads with eight filings, followed by XRP with seven. Notable firms such as Grayscale, Bitwise, and 21Shares are among the applicants, with some also proposing products for Ethereum staking.
In terms of new market entries, the REX-Osprey XRP ETF, trading under the ticker XRPR, is anticipated to debut this week, marking the first U.S. ETF to offer spot exposure to XRP. Additionally, a Dogecoin ETF from REX-Osprey is expected to follow soon, potentially marking the country’s inaugural memecoin ETF.
REX-Osprey had previously launched a Solana staking ETF but reported modest inflows. There are also applications for a spot Avalanche ETF, expanding options available to institutional investors. This wave of applications is indicative of increasing institutional interest in regulated crypto investment products, and analysts suggest that approval of altcoin ETFs could attract new capital, enhance liquidity in major tokens, and reshape market dynamics.
