Significant Inflows into Bitcoin and Ethereum ETFs Mark a Rebound in the Market
On September 18, spot Bitcoin ETFs experienced a remarkable inflow of $433 million, while spot Ethereum ETFs saw an increase of $144 million. These figures highlight a significant rebound following a period of mixed and negative flow sessions.
Fidelity’s FBTC was the standout performer in the Bitcoin category, attracting $311 million of the total inflows, while BlackRock’s IBIT contributed $108 million. In contrast, BlackRock’s ETHA led Ethereum inflows with $114 million, and Fidelity’s FETH added approximately $26 million.
Market Dynamics and Growth
The substantial inflows have brought the total assets under management (AUM) for Bitcoin ETFs to $102.532 billion, which now represents 6.29% of Bitcoin’s market capitalization. Cumulative historical net inflows into Bitcoin ETFs have reached $55.161 billion since their inception. Meanwhile, Ethereum ETFs, although smaller, are gaining traction with total AUM at $16.719 billion, accounting for 5.2% of Ethereum’s market cap and cumulative inflows of $13.250 billion.
Comparative Performance of Fidelity and BlackRock
The inflow dynamics varied significantly between Bitcoin and Ethereum. Fidelity dominated Bitcoin inflows, capturing approximately 72% of the day’s total, while BlackRock took the lead in Ethereum inflows with 79% of the total for that day.
Implications for the Market
The penetration of Bitcoin ETFs into the market cap creates structural dynamics that effectively reduce the circulating supply of Bitcoin as inflows are stored under institutional custody. With cumulative inflows exceeding $68 billion across both Bitcoin and Ethereum ETFs, the market is witnessing a notable shift in institutional investment behavior.
Updated 07:30 UTC
New Developments in Bitcoin ETF Market
- BlackRock clients purchased $108.44 million worth of Bitcoin in a single session through the iShares Bitcoin Trust (IBIT).
- IBIT has become the dominant force in the US spot Bitcoin ETF market since its launch in January 2024, capturing 50% to 80% of total daily or weekly inflows.
- IBIT's holdings have reached between 770,000 and 786,000 BTC, making BlackRock one of the largest institutional holders of Bitcoin.
- Multi-day buying streaks have led to cumulative weekly inflows surpassing $680 million during certain weeks, indicating sustained institutional demand.
- In 2026, BlackRock reduced the minimum threshold for in-kind conversions from $25 million to $1 million, allowing more investors to swap Bitcoin for IBIT shares.
- Cumulative in-kind conversions have exceeded $5 billion as investors transition from direct Bitcoin holdings to the regulated ETF structure.
FAQ
What were the total inflows into Bitcoin and Ethereum ETFs on September 18?
On September 18, spot Bitcoin ETFs experienced inflows of $433 million, while spot Ethereum ETFs saw an increase of $144 million.
Which Bitcoin ETF had the highest inflow on September 18?
Fidelity’s FBTC was the standout performer in the Bitcoin category, attracting $311 million of the total inflows.
What is the total assets under management (AUM) for Bitcoin and Ethereum ETFs?
The total AUM for Bitcoin ETFs is $102.532 billion, representing 6.29% of Bitcoin’s market capitalization, while Ethereum ETFs have a total AUM of $16.719 billion, accounting for 5.2% of Ethereum’s market cap.
How do Fidelity and BlackRock compare in terms of ETF inflows?
Fidelity dominated Bitcoin inflows, capturing approximately 72% of the day's total, while BlackRock led Ethereum inflows with 79% of the total for that day.
What are the implications of the inflows into Bitcoin ETFs for the market?
The inflows into Bitcoin ETFs create structural dynamics that effectively reduce the circulating supply of Bitcoin, as these inflows are stored under institutional custody.
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