Bitcoin ETFs IBIT and FBTC demonstrated exceptional performance during the market downturn, amassing assets exceeding $10 billion.
According to recent reports from Farside Investors, BTC ETFs experienced substantial outflows, totaling $52.9 million on October 2nd.
Even though things are tough, Eric Balchunas, a senior ETF expert at Bloomberg, has picked BlackRock’s IBIT and Fidelity’s FBTC as the two best Bitcoin ETFs of the 2020s.
Both funds have attained “stud level” status, with over $10 billion in Assets Under Management (AUM), underscoring their resilience and attraction to investors during challenging periods.
Fidelity’s FBTC has attracted $9.9 billion, while BlackRock’s IBIT has accumulated an astounding $21.5 billion in total inflows since its inception, as data from Farside Investors further confirmed this trend.
These two exchange-traded funds (ETFs) have led the way, causing other funds to fall behind. Subsequent to a decline in September, October has historically been considered a “Uptober” month. Nevertheless, the results have been inconsistent.
IBIT experienced an inflow of $40.8 million on October 1st, which was significantly different from FBTC, which experienced outflows of $144.7 million.
On October 2nd, IBIT experienced outflows of $13.7 million, while FBTC experienced inflows of $21.1 million, demonstrating the ever-changing dynamics and volatility of the ETF landscape.
In contrast, the Ethereum [ETH] ETFs have also delivered disappointing results. BlackRock’s ETHA did not experience any inflows or outflows on October 1st, while Fidelity’s FETH experienced outflows of $25 million. Cumulative outflows for ETH ETFs totaled $48.6 million.
On the subsequent day, ETHA encountered additional difficulties, resulting in outflows of $18 million. In contrast, FETH maintained a consistent position without any recorded fluxes. This trend underscores the obstacles that Ethereum ETFs encounter in the present market.
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