Bitcoin ETF Weekly Review for Sept. 09, 2024 – Sept. 13, 2024, Records Net Positive Inflow
The Bitcoin ETF opened trading week with a positive inflow on Monday, 09 September. Recording five zero results in bitcoin funds.
Fidelity’s FBTC received the most funds of about $28.6 million in investors’ funds. Closely followed by Bitwise’s BITB with investor’s funds inflow of about $22 million.
Five Bitcoin funds recorded zero, with Ark Invest and 21Shares’ joint fund ARKB and Invesco Galaxy’s BTCO completing the four positive inflows recorded.
Grayscale Bitcoin Trust GBTC and iShares’ IBIT rounded up the day with a combined outflow of $31.9 million, with Grayscale GBTB’s $22.8 million capping the day as the biggest loser.
Tuesday, Sept. 10, 2024
For the second day running, Fidelity’s FBTC ETF received the most money, with investors investing about $63.2 million. Grayscale Bitcoin Mini Trust’s BTC, followed next with an inflow of $41.1 million.
Grayscale Bitcoin Trust GBTC with $6.7 million closed on a positive note.
Franklin’s EZBC and VanEck’s HODL followed on the previous day’s debut on the activity chart with $5.2 million and $5.1 million respectively.
Ark Invest and 21Shares’ joint fund ARKB and Bitwise’s BITB finished the day as the top two with $99.3 million and $43.1 million respectively.
All other six ETFs recorded neither positive nor negative trades at day’s end.
What is Bitcoin ETF?
Exchange-traded fund ETF can be viewed as financial instrument which investors use to as access to trading options. Making the bitcoin ETF a means of exposure to the bitcoin market.
Investors trade the bitcoin ETF on traditional stock exchanges through ownership of shares in funds that hold the bitcoin, as opposed to being the sole owner of the coin as a cryptocurrency asset. Creating a route for mainstream investors not willing to partake in the bitcoin ownership to participate in its trades, with investments having a possibility of loss or gains, depending on price fluctuation of bitcoin.
Trading of the bitcoin ETF like other traditional stocks market, opens and closes trades by following the trading schedules that guide the traditional market. Which is unlike the cryptocurrency investment system where trades are always open.
Summary of the bitcoin ETF Sept. 09 – Sept. 13 Weekly Performance
Coinshares Valkyrie’s BRRR and WisdomTree’s BTCW had no daily inflow or outflow, with both recording zero all through the week.
