IBIT and FBTC rank among the top global ETFs by inflows

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US crypto exchange-traded funds (ETFs) account for nearly 1.9% of total global flows year-to-date, with BlackRock’s IBIT and Fidelity’s FBTC among the Top 15.

Eric Balchunas, senior ETF analyst at Bloomberg impart that global ETF flows year to date are $911 billion. BlackRock’s spot Bitcoin ETF ( BTC ) IBIT is in third place with about $20.5 billion in flows, trailed only by the Vanguard S&P 500 ETF ( VOO ) and its own iShares Core S&P 500 ETF.

Meanwhile, Fidelity’s FBTC saw $9.8 billion and claims the 14th largest amount of inflows.

According to Farside Investors’ DATAU.S.-traded spot Bitcoin ETFs stand at $17.5 billion in net inflows in 2024. However, this is dwarfed by the $440 million in outflows recorded so far by spot Ethereum (ETH) ETFs.

Balchunas has been vocal when it comes to praising the performance of spot Bitcoin ETFs launched this year, both in terms of volume and inflows. In March, the analyst expressed its surprise when BTC ETFs exceeded $10 billion in daily volume. “These are banana numbers for ETFs older than 2 months.”

Moreover, in early July the collapse of prices caused by the German government for sale almost 50,000 BTC, Balchunas was surprised again when Bitcoin ETFs saw positive net flows on daily, weekly and monthly time frames.

Ethereum ETFs under pressure from various factors

That reported by Crypto Briefing, BlackRock’s Ethereum ETF ETHA surpassed $1 billion in flows yesterday. This is a major milestone to reach as Ethereum spot ETFs are approaching a month since launch.

However, the performance of these funds still pales in comparison to the resilience shown by Bitcoin ETFs. In the latest edition of the “Bitfinex Alpha” report, Bitfinex analysts highlight various reasons behind this disparity.

The first is the selling pressure created by market maker Jump Trading, which has unloaded over 83,000 ETH into the market since August 9th. In addition, Wintermute and Flow Traders also sold Ethereum, bringing the total amount dumped to 130,000 ETH.

Notably, these selling moves come as the market faces a liquidity crunch, making it more difficult to absorb large ETH deposits. Furthermore, Grayscale’s ETHE with nearly $2.5 billion in outflows is another significant factor holding Ethereum ETFs down.

Finally, the sudden interest rate hike in Japan, uncertainty surrounding the outcome of the US presidential election and tensions in the Middle East paint a macroeconomic picture that dampens risk appetite, directly impacting ETH’s performance.

As a result, investors seem to be avoiding ETH for now and thus have a direct influence on the net flows of Ethereum ETFs.

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